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

Wealthstar Advisors LLC bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,056 shares of the basic materials company’s stock, valued at approximately $519,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pelham Capital Ltd. acquired a new stake in shares of Carpenter Technology during the fourth quarter worth $7,291,000. WCM Investment Management LLC boosted its holdings in Carpenter Technology by 13.6% during the fourth quarter. WCM Investment Management LLC now owns 134,756 shares of the basic materials company’s stock worth $22,547,000 after buying an additional 16,097 shares during the last quarter. Empowered Funds LLC grew its position in shares of Carpenter Technology by 2.4% during the 4th quarter. Empowered Funds LLC now owns 34,498 shares of the basic materials company’s stock worth $5,855,000 after buying an additional 821 shares during the period. Advisors Preferred LLC bought a new stake in shares of Carpenter Technology in the 4th quarter valued at about $1,077,000. Finally, Stratos Wealth Partners LTD. raised its position in shares of Carpenter Technology by 2.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after acquiring an additional 63 shares during the period. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Carpenter Technology Stock Performance

Shares of CRS opened at $187.93 on Monday. The firm has a market cap of $9.39 billion, a P/E ratio of 35.46, a PEG ratio of 0.88 and a beta of 1.54. Carpenter Technology Co. has a twelve month low of $60.65 and a twelve month high of $213.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm’s 50 day moving average price is $187.40 and its two-hundred day moving average price is $166.72.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Carpenter Technology’s 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.