Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,797 shares of the basic materials company’s stock after acquiring an additional 115 shares during the period. Wesbanco Bank Inc.’s holdings in Carpenter Technology were worth $1,663,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRS. Tidal Investments LLC boosted its holdings in Carpenter Technology by 91.9% during the third 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 in the last quarter. Fisher Asset Management LLC increased its position in Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP acquired a new stake in Carpenter Technology during the third quarter worth about $25,262,000. Natixis Advisors LLC increased its position in Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after acquiring an additional 103,559 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 2.6 %

NYSE CRS opened at $212.70 on Friday. The firm has a 50 day simple moving average of $185.41 and a 200-day simple moving average of $159.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $213.65. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 1.00 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same quarter last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology Co. will post 6.77 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology 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.