Wesbanco Bank Inc. acquired a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,682 shares of the basic materials company's stock, valued at approximately $691,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Phocas Financial Corp. bought a new position in Carpenter Technology during the 4th quarter valued at $3,396,000. Consolidated Portfolio Review Corp purchased a new position in shares of Carpenter Technology during the 4th quarter valued at $1,297,000. Penserra Capital Management LLC grew its holdings in shares of Carpenter Technology by 6,477.1% during the 3rd quarter. Penserra Capital Management LLC now owns 37,884 shares of the basic materials company's stock valued at $2,546,000 after acquiring an additional 37,308 shares in the last quarter. GAMMA Investing LLC bought a new stake in Carpenter Technology in the fourth quarter worth $100,000. Finally, Kestra Advisory Services LLC boosted its holdings in Carpenter Technology by 7.4% in the third quarter. Kestra Advisory Services LLC now owns 7,256 shares of the basic materials company's stock worth $488,000 after purchasing an additional 503 shares in the last quarter. Institutional investors own 92.03% of the company's stock.
Analysts Set New Price Targets
Separately, TD Cowen upped their price objective on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a "buy" rating in a report on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.33.
View Our Latest Analysis on Carpenter Technology
Carpenter Technology Stock Up 3.7 %
NYSE:CRS traded up $3.74 during trading hours on Friday, reaching $103.64. The company's stock had a trading volume of 892,810 shares, compared to its average volume of 700,732. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 39.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.26. Carpenter Technology Co. has a one year low of $44.40 and a one year high of $104.85. The business's 50-day moving average is $74.07 and its 200-day moving average is $69.06.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.25. The firm had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Equities research analysts predict that Carpenter Technology Co. will post 3.97 EPS for the current year.
Carpenter Technology Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd will be given a dividend of $0.20 per share. This is a positive change from Carpenter Technology's previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. Carpenter Technology's payout ratio is currently 30.42%.
Carpenter Technology Profile
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Free Report)
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.
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