Amalgamated Bank Acquires 8,076 Shares of Carpenter Technology Co. (NYSE:CRS)

Amalgamated Bank lifted its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 55.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,731 shares of the basic materials company’s stock after acquiring an additional 8,076 shares during the quarter. Amalgamated Bank’s holdings in Carpenter Technology were worth $3,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its holdings in Carpenter Technology by 2.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 63 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Carpenter Technology by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after buying an additional 78 shares during the period. Strengthening Families & Communities LLC raised its stake in Carpenter Technology by 0.6% in the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after buying an additional 100 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after buying an additional 109 shares during the period. Finally, Wesbanco Bank Inc. boosted its position in Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CRS shares. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology Price Performance

CRS stock opened at $207.25 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm has a 50 day moving average price of $191.17 and a 200-day moving average price of $171.85. Carpenter Technology Co. has a 52-week low of $62.99 and a 52-week high of $213.65. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 0.93 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.