Raymond James Financial Inc. Purchases New Holdings in Carpenter Technology Co. (NYSE:CRS)

Raymond James Financial Inc. purchased a new stake in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 110,369 shares of the basic materials company’s stock, valued at approximately $18,731,000. Raymond James Financial Inc. owned approximately 0.22% of Carpenter Technology at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. grew its holdings in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after acquiring an additional 63 shares during the period. CIBC Asset Management Inc grew its holdings in Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock worth $258,000 after acquiring an additional 78 shares during the period. Strengthening Families & Communities LLC grew its holdings in Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after acquiring an additional 100 shares during the period. Fifth Third Bancorp grew its holdings in Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 109 shares during the period. Finally, Wesbanco Bank Inc. grew its holdings in Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of a number of analyst reports. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Price Performance

Shares of CRS stock opened at $184.42 on Tuesday. Carpenter Technology Co. has a 12-month low of $65.26 and a 12-month high of $213.66. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $194.79 and a 200-day moving average of $176.13.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology’s dividend payout ratio is currently 15.09%.

Carpenter Technology Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.