New Age Alpha Advisors LLC Acquires New Position in Carpenter Technology Co. (NYSE:CRS)

New Age Alpha Advisors LLC bought a new position in Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,052 shares of the basic materials company’s stock, valued at approximately $518,000.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after purchasing an additional 17,497 shares in the last quarter. Norges Bank bought a new position in shares of Carpenter Technology during the 4th quarter worth $100,505,000. Allspring Global Investments Holdings LLC increased its stake in shares of Carpenter Technology by 428.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after buying an additional 479,985 shares during the period. American Century Companies Inc. raised its holdings in shares of Carpenter Technology by 7.6% in the fourth quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company’s stock valued at $87,765,000 after acquiring an additional 36,606 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Carpenter Technology by 7.1% in the fourth quarter. Fisher Asset Management LLC now owns 390,229 shares of the basic materials company’s stock worth $66,226,000 after acquiring an additional 25,917 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Up 0.8 %

Shares of Carpenter Technology stock opened at $182.58 on Wednesday. Carpenter Technology Co. has a 52-week low of $70.20 and a 52-week high of $213.66. The firm’s 50 day moving average price is $192.92 and its 200-day moving average price is $179.91. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.12 billion, a P/E ratio of 34.45, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Company Profile

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.