State of Wyoming acquired a new position in Carpenter Technology Corporation (NYSE:CRS – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,471 shares of the basic materials company’s stock, valued at approximately $907,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CRS. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Carpenter Technology during the first quarter valued at approximately $30,000. SJS Investment Consulting Inc. grew its stake in shares of Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after buying an additional 36 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Carpenter Technology by 1,228.6% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 93 shares of the basic materials company’s stock worth $57,000 after buying an additional 86 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Carpenter Technology in the 2nd quarter worth approximately $28,000. Finally, Hollencrest Capital Management bought a new position in Carpenter Technology during the 1st quarter valued at approximately $52,000. Institutional investors own 92.03% of the company’s stock.
Carpenter Technology Price Performance
Shares of NYSE CRS opened at $543.90 on Friday. The firm has a market cap of $26.96 billion, a P/E ratio of 51.70, a PEG ratio of 1.98 and a beta of 1.25. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $569.01 and a 200 day moving average of $462.25.
Carpenter Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio is presently 7.60%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on CRS shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. KeyCorp cut their target price on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their price target on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Buy” and a consensus target price of $577.25.
Check Out Our Latest Stock Analysis on Carpenter Technology
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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.
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