Creative Planning Purchases 4,100 Shares of Carpenter Technology Co. (NYSE:CRS)

Creative Planning boosted its position in Carpenter Technology Co. (NYSE:CRS) by 55.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,558 shares of the basic materials company’s stock after acquiring an additional 4,100 shares during the quarter. Creative Planning’s holdings in Carpenter Technology were worth $1,844,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its position in Carpenter Technology by 12.6% in the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after buying an additional 103 shares in the last quarter. GAMMA Investing LLC boosted its position in Carpenter Technology by 9.2% in the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after buying an additional 136 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after buying an additional 178 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Carpenter Technology by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after purchasing an additional 215 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Carpenter Technology by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock worth $1,835,000 after purchasing an additional 281 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

CRS stock opened at $166.25 on Tuesday. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 63.21, a PEG ratio of 0.83 and a beta of 1.45. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $166.67. The company’s fifty day simple moving average is $150.68 and its 200 day simple moving average is $124.43.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. Carpenter Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, analysts expect that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.48%. Carpenter Technology’s payout ratio is 30.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday. BTIG Research lifted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

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.