Howard Capital Management Inc. Takes $787,000 Position in Carpenter Technology Co. (NYSE:CRS)

Howard Capital Management Inc. bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,640 shares of the basic materials company’s stock, valued at approximately $787,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $25,000. UMB Bank n.a. increased its stake in shares of Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the period. Banque Cantonale Vaudoise bought a new stake in Carpenter Technology during the 3rd quarter valued at $65,000. Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology during the 3rd quarter valued at $80,000. Finally, Morse Asset Management Inc bought a new stake in Carpenter Technology in the 3rd quarter worth $84,000. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRS has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Trading Down 6.2 %

NYSE:CRS opened at $195.21 on Monday. Carpenter Technology Co. has a 12 month low of $62.99 and a 12 month high of $213.65. 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 company has a 50-day moving average price of $188.87 and a 200-day moving average price of $170.62. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 0.93 and a beta of 1.54.

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

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is 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.