Manuka Financial LLC Takes $368,000 Position in Carpenter Technology Co. (NYSE:CRS)

Manuka Financial LLC bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, Holdings Channel reports. The fund bought 2,167 shares of the basic materials company’s stock, valued at approximately $368,000.

Several other hedge funds have also made changes to their positions in CRS. The Manufacturers Life Insurance Company boosted its stake in shares of Carpenter Technology by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 26,930 shares of the basic materials company’s stock worth $2,951,000 after buying an additional 328 shares during the period. Creative Planning increased its holdings in Carpenter Technology by 73.9% in the second quarter. Creative Planning now owns 7,458 shares of the basic materials company’s stock valued at $817,000 after buying an additional 3,170 shares in the last quarter. Cetera Investment Advisers increased its holdings in Carpenter Technology by 4.8% in the second quarter. Cetera Investment Advisers now owns 11,119 shares of the basic materials company’s stock valued at $1,218,000 after buying an additional 506 shares in the last quarter. SG Americas Securities LLC increased its holdings in Carpenter Technology by 115.7% in the third quarter. SG Americas Securities LLC now owns 3,701 shares of the basic materials company’s stock valued at $591,000 after buying an additional 1,985 shares in the last quarter. Finally, Capital CS Group LLC purchased a new position in Carpenter Technology in the third quarter valued at about $628,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRS shares. JPMorgan Chase & Co. increased their target price on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $155.50.

Carpenter Technology Stock Down 0.3 %

Shares of NYSE CRS opened at $193.12 on Friday. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $213.65. The firm’s 50 day moving average price is $187.81 and its 200 day moving average price is $163.65. The firm has a market cap of $9.63 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.74 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. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. 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 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.