EP Wealth Advisors LLC Acquires Shares of 2,073 Carpenter Technology Co. (NYSE:CRS)

EP Wealth Advisors LLC bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,073 shares of the basic materials company’s stock, valued at approximately $331,000.

Several other large investors also recently bought and sold shares of CRS. Weiss Asset Management LP acquired a new position in Carpenter Technology during the third quarter worth about $725,000. Systematic Financial Management LP purchased a new stake in Carpenter Technology in the 3rd quarter valued at about $222,000. Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the third quarter valued at about $84,000. Holocene Advisors LP purchased a new stake in Carpenter Technology in the third quarter valued at approximately $17,337,000. Finally, Centiva Capital LP raised its holdings in shares of Carpenter Technology by 143.4% in the 3rd quarter. Centiva Capital LP now owns 8,584 shares of the basic materials company’s stock valued at $1,370,000 after buying an additional 5,057 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Down 2.2 %

Shares of NYSE:CRS opened at $177.07 on Friday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $198.24. The company has a market capitalization of $8.83 billion, a PE ratio of 39.44, a P/E/G ratio of 0.97 and a beta of 1.52. The firm has a 50 day simple moving average of $172.90 and a 200-day simple moving average of $143.47.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. During the same quarter last year, the business posted $0.88 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were given a $0.20 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.45%. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

Wall Street Analyst Weigh In

CRS has been the topic of several recent research reports. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

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.