Arete Wealth Advisors LLC Increases Stock Position in Carpenter Technology Co. (NYSE:CRS)

Arete Wealth Advisors LLC boosted its holdings in Carpenter Technology Co. (NYSE:CRS) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,423 shares of the basic materials company’s stock after purchasing an additional 169 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Carpenter Technology were worth $384,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CRS. Kimelman & Baird LLC purchased a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $33,000. National Bank of Canada FI acquired a new position in Carpenter Technology in the 2nd quarter valued at $49,000. EverSource Wealth Advisors LLC raised its position in Carpenter Technology by 58.0% during the 2nd 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 last quarter. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology in the 3rd quarter worth $64,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology in the 3rd quarter worth $65,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRS shares. Benchmark restated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Stock Performance

NYSE CRS opened at $174.09 on Friday. The business has a 50 day moving average price of $173.18 and a 200 day moving average price of $143.92. The company has a market capitalization of $8.68 billion, a P/E ratio of 38.77, a PEG ratio of 0.90 and a beta of 1.52. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $198.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts expect that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s payout ratio is currently 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.