Ieq Capital LLC Has $469,000 Stake in Carpenter Technology Co. (NYSE:CRS)

Ieq Capital LLC lifted its position in Carpenter Technology Co. (NYSE:CRS) by 105.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,761 shares of the basic materials company’s stock after acquiring an additional 1,414 shares during the period. Ieq Capital LLC’s holdings in Carpenter Technology were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CRS. Kestra Investment Management LLC acquired a new position in Carpenter Technology during the fourth quarter worth $25,000. UMB Bank n.a. raised its stake in Carpenter Technology by 169.0% during 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. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology during the third quarter worth $65,000. Wilmington Savings Fund Society FSB acquired a new position in Carpenter Technology during the third quarter worth $80,000. Finally, Morse Asset Management Inc acquired a new position in Carpenter Technology during the third quarter worth $84,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRS has been the subject of several recent analyst reports. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. 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 research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Price Performance

Shares of CRS stock opened at $199.00 on Thursday. The stock’s fifty day moving average is $190.58 and its 200-day moving average is $171.66. 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 stock has a market capitalization of $9.94 billion, a PE ratio of 37.55, a PEG ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping 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 research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is presently 15.09%.

Carpenter Technology 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.