Chase Investment Counsel Corp Makes New $216,000 Investment in Carpenter Technology Co. (NYSE:CRS)

Chase Investment Counsel Corp purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,274 shares of the basic materials company’s stock, valued at approximately $216,000.

A number of other institutional investors also recently added to or reduced their stakes in CRS. FMR LLC raised its position in Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock valued at $175,607,000 after purchasing an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Carpenter Technology by 15.6% during the 3rd 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 period. Allspring Global Investments Holdings LLC boosted its holdings in Carpenter Technology by 428.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after acquiring an additional 479,985 shares during the period. Finally, Avala Global LP boosted its stake in shares of Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after buying an additional 73,400 shares during the period. Institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CRS shares. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Stock Up 4.4 %

Shares of Carpenter Technology stock opened at $207.25 on Friday. Carpenter Technology Co. has a 1-year low of $62.99 and a 1-year high of $213.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business’s fifty day moving average price is $191.17 and its two-hundred day moving average price is $171.85. The company has a market capitalization of $10.35 billion, a P/E ratio of 39.10, a PEG ratio of 0.93 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. Carpenter Technology’s dividend payout ratio is currently 15.09%.

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.