Wesbanco Bank Inc. Raises Stake in Carpenter Technology Co. (NYSE:CRS)

Wesbanco Bank Inc. raised its position in Carpenter Technology Co. (NYSE:CRS) by 1.2% in the fourth quarter, Holdings Channel reports. The fund owned 9,797 shares of the basic materials company’s stock after buying an additional 115 shares during the period. Wesbanco Bank Inc.’s holdings in Carpenter Technology were worth $1,663,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $33,000. UMB Bank n.a. lifted its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $64,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $65,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $212.70 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 1.00 and a beta of 1.55. The firm’s fifty day simple moving average is $185.41 and its 200-day simple moving average is $159.81. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $213.65.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. Carpenter Technology’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. As a group, equities analysts forecast that Carpenter Technology Co. will post 6.77 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRS. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

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.