Carpenter Technology Co. (NYSE:CRS) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its position in Carpenter Technology Co. (NYSE:CRS) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,755 shares of the basic materials company’s stock after acquiring an additional 773 shares during the period. SteelPeak Wealth LLC’s holdings in Carpenter Technology were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares in the last quarter. nVerses Capital LLC acquired a new position in Carpenter Technology during the third quarter worth about $64,000. Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology during the 3rd quarter valued at about $65,000. Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology in the 3rd quarter valued at about $80,000. Finally, Morse Asset Management Inc purchased a new position in Carpenter Technology in the 3rd quarter worth approximately $84,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Monday. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Carpenter Technology Trading Down 7.4 %

NYSE CRS opened at $193.59 on Friday. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $213.65. The firm has a 50 day moving average of $187.77 and a two-hundred day moving average of $163.12. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $9.65 billion, a PE ratio of 43.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. As a group, research analysts expect that Carpenter Technology Co. will post 6.77 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders 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 0.41%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is 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.