1,486 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by Park Edge Advisors LLC

Park Edge Advisors LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS) in the third quarter, HoldingsChannel reports. The institutional investor acquired 1,486 shares of the basic materials company’s stock, valued at approximately $237,000.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. acquired a new position in shares of Carpenter Technology in the first quarter worth about $30,000. Kimelman & Baird LLC purchased a new position in shares of Carpenter Technology during the 2nd quarter valued at approximately $33,000. National Bank of Canada FI acquired a new stake in shares of Carpenter Technology during the second quarter worth approximately $49,000. EverSource Wealth Advisors LLC grew its position in shares of Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after buying an additional 685 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRS. BTIG Research upped their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Stock Performance

NYSE CRS traded up $1.10 during trading hours on Friday, reaching $155.47. The company’s stock had a trading volume of 893,850 shares, compared to its average volume of 587,593. The stock has a market cap of $7.71 billion, a PE ratio of 59.11, a PEG ratio of 0.83 and a beta of 1.45. The business has a 50-day simple moving average of $150.28 and a 200 day simple moving average of $123.49. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $166.51. The company has a current ratio of 3.41, a quick ratio of 1.84 and a debt-to-equity ratio of 0.43.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.16. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter last year, the company earned $0.88 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts predict that Carpenter Technology Co. will post 6.63 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

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.