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

SteelPeak Wealth LLC boosted its position in Carpenter Technology Co. (NYSE:CRS) by 25.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,755 shares of the basic materials company’s stock after purchasing 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 & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Carpenter Technology by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 26,930 shares of the basic materials company’s stock valued at $2,951,000 after buying an additional 328 shares in the last quarter. Creative Planning grew its stake in shares of Carpenter Technology by 73.9% during the 2nd quarter. Creative Planning now owns 7,458 shares of the basic materials company’s stock worth $817,000 after purchasing an additional 3,170 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Carpenter Technology in the second quarter valued at about $3,888,000. Cetera Investment Advisers boosted its holdings in Carpenter Technology by 4.8% during the second quarter. Cetera Investment Advisers now owns 11,119 shares of the basic materials company’s stock worth $1,218,000 after buying an additional 506 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Carpenter Technology by 115.7% during the third quarter. SG Americas Securities LLC now owns 3,701 shares of the basic materials company’s stock worth $591,000 after buying an additional 1,985 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 7.4 %

CRS opened at $193.59 on Friday. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $213.65. The business has a 50-day moving average of $187.77 and a two-hundred day moving average of $163.12. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 43.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

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

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. 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 dividend payout ratio (DPR) is 17.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CRS shares. Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.