Cookson Peirce & Co. Inc. Has $1.03 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Cookson Peirce & Co. Inc. grew its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 56.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,062 shares of the basic materials company’s stock after purchasing an additional 2,185 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Carpenter Technology were worth $1,029,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRS. Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology during the 4th quarter worth approximately $25,000. UMB Bank n.a. increased its position in shares of Carpenter Technology by 169.0% during the 4th 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 last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $65,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $203.24 on Thursday. The stock has a fifty day moving average price of $193.16 and a 200-day moving average price of $173.60. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 0.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a fifty-two week low of $63.58 and a fifty-two week high of $213.66.

Carpenter Technology (NYSE:CRS) last released its 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 return on equity of 19.88% and a net margin of 9.34%. As a group, equities analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.39%. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRS. JPMorgan Chase & Co. lifted their target price 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 note on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

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.