Stratos Wealth Partners LTD. Acquires 63 Shares of Carpenter Technology Co. (NYSE:CRS)

Stratos Wealth Partners LTD. lifted its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415 shares of the basic materials company’s stock after purchasing an additional 63 shares during the period. Stratos Wealth Partners LTD.’s holdings in Carpenter Technology were worth $410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in 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 acquiring an additional 191 shares in the last quarter. nVerses Capital LLC bought a new position in Carpenter Technology in the third quarter worth approximately $64,000. Banque Cantonale Vaudoise bought a new position in Carpenter Technology in the third quarter worth approximately $65,000. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology in the third quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new position in Carpenter Technology in the third quarter worth approximately $84,000. Institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CRS. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Benchmark reaffirmed a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average target price of $155.50.

Carpenter Technology Trading Up 0.8 %

NYSE CRS opened at $186.69 on Thursday. Carpenter Technology Co. has a 1-year low of $60.65 and a 1-year 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 stock has a 50-day moving average of $187.00 and a 200-day moving average of $167.56. The firm has a market cap of $9.33 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating 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, sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.