Raymond James Financial Inc. Purchases New Position in Carpenter Technology Co. (NYSE:CRS)

Raymond James Financial Inc. acquired a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,369 shares of the basic materials company’s stock, valued at approximately $18,731,000. Raymond James Financial Inc. owned about 0.22% of Carpenter Technology at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its holdings in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after purchasing an additional 63 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Carpenter Technology by 11.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $114,000 after buying an additional 71 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after buying an additional 78 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after buying an additional 109 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its position in Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CRS. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Northcoast Research upgraded shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Trading Down 1.2 %

Shares of NYSE CRS opened at $170.19 on Monday. The company’s 50 day simple moving average is $183.77 and its 200 day simple moving average is $181.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a fifty-two week low of $75.73 and a fifty-two week high of $213.66. The firm has a market capitalization of $8.50 billion, a P/E ratio of 32.11, a P/E/G ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Carpenter Technology Company 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.