Private Advisor Group LLC Purchases 196 Shares of Carpenter Technology Co. (NYSE:CRS)

Private Advisor Group LLC raised its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,300 shares of the basic materials company’s stock after purchasing an additional 196 shares during the quarter. Private Advisor Group LLC’s holdings in Carpenter Technology were worth $846,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Whittier Trust Co. bought a new position in shares of Carpenter Technology in the 1st quarter worth approximately $30,000. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology during the 2nd quarter valued at approximately $33,000. National Bank of Canada FI purchased a new position in Carpenter Technology during the second quarter worth $49,000. EverSource Wealth Advisors LLC boosted its stake in 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 during the period. Finally, Covestor Ltd boosted its stake in shares of Carpenter Technology by 469.2% during the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 685 shares during the period. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research upped their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $155.36 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $166.67. The business’s 50 day moving average price is $151.78 and its 200 day moving average price is $125.99. The firm has a market cap of $7.74 billion, a P/E ratio of 34.60, a P/E/G ratio of 0.80 and a beta of 1.45.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter last year, the firm posted $0.88 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.