1,520 Shares in Carpenter Technology Co. (NYSE:CRS) Acquired by Atlas Wealth Partners LLC

Atlas Wealth Partners LLC purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,520 shares of the basic materials company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Carpenter Technology by 12.6% during the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after buying an additional 103 shares during the last quarter. GAMMA Investing LLC boosted its stake in Carpenter Technology by 9.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 136 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares in the last quarter. American International Group Inc. increased its position in shares of Carpenter Technology by 0.7% in the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock worth $1,887,000 after purchasing an additional 188 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Carpenter Technology by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock valued at $825,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $158.52 on Friday. The company has a market cap of $7.86 billion, a P/E ratio of 60.27, a PEG ratio of 0.83 and a beta of 1.45. The business has a 50 day moving average of $148.92 and a two-hundred day moving average of $120.76. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $166.51. 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 (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The firm had revenue of $798.70 million during the quarter, compared to the consensus estimate of $763.76 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. As a group, analysts anticipate that Carpenter Technology Co. will post 6.63 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s payout ratio is 30.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRS shares. BTIG Research lifted their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark lifted their target price on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.60.

About Carpenter Technology

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.