Advisors Preferred LLC Makes New $1.08 Million Investment in Carpenter Technology Co. (NYSE:CRS)

Advisors Preferred LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,139 shares of the basic materials company’s stock, valued at approximately $1,077,000.

Several other large investors also recently modified their holdings of CRS. UMB Bank n.a. increased its stake in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 191 shares during the period. nVerses Capital LLC bought a new stake in shares of Carpenter Technology in the third quarter valued at approximately $64,000. Banque Cantonale Vaudoise acquired a new stake in Carpenter Technology during the third quarter worth approximately $65,000. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology during the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc acquired a new position in Carpenter Technology in the 3rd quarter valued at $84,000. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CRS. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Benchmark restated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

Carpenter Technology Stock Down 1.1 %

CRS stock opened at $187.93 on Friday. The stock has a market capitalization of $9.39 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 0.92 and a beta of 1.54. 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 firm has a 50-day moving average price of $187.40 and a 200-day moving average price of $166.12. Carpenter Technology Co. has a 12 month low of $60.65 and a 12 month high of $213.65.

Carpenter Technology (NYSE:CRS) last posted its 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 net margin of 9.34% and a return on equity of 19.88%. As a group, equities research analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

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.