Cibc World Markets Corp Invests $756,000 in Carpenter Technology Co. (NYSE:CRS)

Cibc World Markets Corp purchased a new position in Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,453 shares of the basic materials company’s stock, valued at approximately $756,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Carpenter Technology by 54.1% in the third quarter. Victory Capital Management Inc. now owns 23,068 shares of the basic materials company’s stock worth $3,681,000 after purchasing an additional 8,095 shares in the last quarter. CIBC Asset Management Inc bought a new position in Carpenter Technology in the third quarter worth approximately $230,000. Natixis Advisors LLC grew its stake in Carpenter Technology by 6.0% in 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 in the last quarter. Quest Partners LLC grew its stake in Carpenter Technology by 68.1% in the third quarter. Quest Partners LLC now owns 3,624 shares of the basic materials company’s stock worth $578,000 after purchasing an additional 1,468 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Carpenter Technology in the third quarter worth approximately $65,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Down 1.3 %

Shares of NYSE CRS opened at $183.75 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.18 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The stock’s fifty day simple moving average is $194.95 and its two-hundred day simple moving average is $177.12. Carpenter Technology Co. has a 12-month low of $67.52 and a 12-month high of $213.66.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate 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, analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

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

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.