Allworth Financial LP Raises Holdings in Carpenter Technology Co. (NYSE:CRS)

Allworth Financial LP grew its position in shares of Carpenter Technology Co. (NYSE:CRS) by 31,309.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,910 shares of the basic materials company’s stock after buying an additional 6,888 shares during the period. Allworth Financial LP’s holdings in Carpenter Technology were worth $1,173,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Carpenter Technology by 91.9% during 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 in the last quarter. Fisher Asset Management LLC lifted its holdings in Carpenter Technology by 3.9% during 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 in the last quarter. Forest Avenue Capital Management LP purchased a new stake in Carpenter Technology during the 3rd quarter worth about $25,262,000. Natixis Advisors LLC lifted its holdings in Carpenter Technology by 6.0% during 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 in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Carpenter Technology during the 4th quarter worth about $419,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $209.92 on Thursday. The firm has a market capitalization of $10.49 billion, a P/E ratio of 39.61, a P/E/G ratio of 0.88 and a beta of 1.54. 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 stock’s 50-day simple moving average is $187.83 and its two-hundred day simple moving average is $169.44. Carpenter Technology Co. has a twelve month low of $62.99 and a twelve month high of $213.65.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.33.

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.