EverSource Wealth Advisors LLC Increases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

EverSource Wealth Advisors LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 669 shares of the basic materials company’s stock after acquiring an additional 71 shares during the period. EverSource Wealth Advisors LLC’s holdings in Carpenter Technology were worth $114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Carpenter Technology during the 4th quarter valued at $25,000. UMB Bank n.a. boosted 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 valued at $52,000 after buying an additional 191 shares during the period. Banque Cantonale Vaudoise bought a new position in Carpenter Technology in the 3rd quarter worth about $65,000. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology in the 3rd quarter worth about $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology in the 3rd quarter valued at about $84,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $181.52 on Wednesday. Carpenter Technology Co. has a 1-year low of $66.00 and a 1-year high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business has a 50 day moving average of $194.80 and a 200 day moving average of $176.39. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, sell-side analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology’s payout ratio is 15.09%.

Analyst Ratings Changes

Several research analysts recently weighed in on CRS shares. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $167.17.

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.