Burney Co. Buys 120 Shares of Carpenter Technology Co. (NYSE:CRS)

Burney Co. increased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 6.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,045 shares of the basic materials company’s stock after purchasing an additional 120 shares during the quarter. Burney Co.’s holdings in Carpenter Technology were worth $347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC grew its position in shares of Carpenter Technology by 91.9% in the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after buying an additional 10,094 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Carpenter Technology by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after buying an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Carpenter Technology in the 3rd quarter worth approximately $25,262,000. Natixis Advisors LLC grew its position in shares of Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after buying an additional 1,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after buying an additional 103,559 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Up 3.0 %

CRS stock opened at $206.85 on Friday. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $207.99. The business has a fifty day moving average price of $182.74 and a 200-day moving average price of $157.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The stock has a market capitalization of $10.31 billion, a P/E ratio of 46.07, a P/E/G ratio of 0.88 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 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 company had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Carpenter Technology’s revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that Carpenter Technology Co. will post 6.77 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 17.82%.

Analyst Ratings Changes

A number of research analysts have recently commented on CRS shares. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price for the company. Benchmark restated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

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.