Nvest Financial LLC Buys New Position in Carpenter Technology Co. (NYSE:CRS)

Nvest Financial LLC purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,500 shares of the basic materials company’s stock, valued at approximately $255,000.

A number of other institutional investors also recently made changes to their positions in the stock. Strengthening Families & Communities LLC increased its stake in shares of Carpenter Technology by 0.6% during the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after acquiring an additional 100 shares during the period. Fifth Third Bancorp boosted its stake in Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after purchasing an additional 115 shares during the period. Burney Co. raised its stake in shares of Carpenter Technology by 6.2% in the 4th quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock worth $347,000 after buying an additional 120 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Carpenter Technology by 13.5% in the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after buying an additional 161 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

NYSE CRS opened at $206.15 on Wednesday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $213.65. The company has a market cap of $10.28 billion, a PE ratio of 45.91, a PEG ratio of 0.98 and a beta of 1.55. The stock’s 50-day moving average price is $186.94 and its two-hundred day moving average price is $162.58.

Carpenter Technology Dividend Announcement

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 given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $175.00 target price 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 assigned a buy rating to the stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $155.50.

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.