EverSource Wealth Advisors LLC Purchases 71 Shares of Carpenter Technology Co. (NYSE:CRS)

EverSource Wealth Advisors LLC boosted its position in Carpenter Technology Co. (NYSE:CRS) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 669 shares of the basic materials company’s stock after purchasing 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRS. Stratos Wealth Partners LTD. boosted its stake in shares of Carpenter Technology by 2.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after buying an additional 63 shares during the last quarter. CIBC Asset Management Inc boosted its position in Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 78 shares during the last quarter. Fifth Third Bancorp grew its stake in Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares during the period. Wesbanco Bank Inc. increased its position in shares of Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after purchasing an additional 115 shares during the last quarter. Finally, Burney Co. raised its stake in shares of Carpenter Technology by 6.2% during the 4th quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

NYSE CRS opened at $181.52 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.07 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 52 week low of $66.00 and a 52 week high of $213.66. The firm’s 50-day simple moving average is $194.80 and its two-hundred day simple moving average is $176.39.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 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%. Research analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

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

Analyst Ratings Changes

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

Carpenter Technology 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.