4,844 Shares in Carpenter Technology Co. (NYSE:CRS) Acquired by Inspire Investing LLC

Inspire Investing LLC bought a new position in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,844 shares of the basic materials company’s stock, valued at approximately $822,000.

A number of other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC increased its stake in Carpenter Technology by 91.9% in the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after purchasing an additional 10,094 shares during the period. Fisher Asset Management LLC increased its stake in Carpenter Technology by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares during the period. Forest Avenue Capital Management LP purchased a new position in Carpenter Technology in the 3rd quarter worth approximately $25,262,000. Natixis Advisors LLC increased its stake in Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after purchasing an additional 1,343 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after purchasing an additional 103,559 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

CRS opened at $210.59 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $213.65. The stock has a market capitalization of $10.50 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55. The stock’s 50 day moving average price is $186.11 and its 200-day moving average price is $160.53.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts predict that Carpenter Technology Co. will post 6.77 EPS for the current year.

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 paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.38%. Carpenter Technology’s payout ratio is 17.82%.

Analyst Ratings Changes

CRS has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $153.00.

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.