Inceptionr LLC Takes $462,000 Position in Carpenter Technology Co. (NYSE:CRS)

Inceptionr LLC acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,722 shares of the basic materials company’s stock, valued at approximately $462,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC raised its position in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after purchasing an additional 1,108,963 shares during the period. Allspring Global Investments Holdings LLC raised its position in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after purchasing an additional 479,985 shares during the period. Forest Avenue Capital Management LP purchased a new position in Carpenter Technology in the 3rd quarter worth $25,262,000. WCM Investment Management LLC purchased a new position in Carpenter Technology in the 3rd quarter worth $18,868,000. Finally, Raymond James Financial Inc. purchased a new position in Carpenter Technology in the 4th quarter worth $18,731,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $180.32 on Friday. The firm has a market cap of $9.01 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 12-month low of $63.58 and a 12-month high of $213.66. 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 company’s fifty day simple moving average is $194.14 and its two-hundred day simple moving average is $174.35.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, equities 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 was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.