Amalgamated Bank Increases Stock Position in Carpenter Technology Co. (NYSE:CRS)

Amalgamated Bank raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 55.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,731 shares of the basic materials company’s stock after purchasing an additional 8,076 shares during the period. Amalgamated Bank’s holdings in Carpenter Technology were worth $3,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CRS. Tidal Investments LLC boosted its position in shares of Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after buying an additional 10,094 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after acquiring an additional 13,815 shares during the period. Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $25,262,000. Natixis Advisors LLC grew its stake in shares of Carpenter Technology by 6.0% in the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after acquiring an additional 1,343 shares during the period. Finally, Manuka Financial LLC purchased a new position in shares of Carpenter Technology during the fourth quarter valued at approximately $368,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $207.25 on Friday. The firm’s 50 day moving average price is $191.17 and its 200-day moving average price is $171.85. 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 stock has a market capitalization of $10.35 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a twelve month low of $62.99 and a twelve month high of $213.65.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping 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%. Equities research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.39%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analysts Set New Price Targets

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

Carpenter Technology Company 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.