1,891 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by Optimize Financial Inc

Optimize Financial Inc purchased a new stake in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,891 shares of the basic materials company’s stock, valued at approximately $321,000.

Other hedge funds have also bought and sold shares of the company. Arete Wealth Advisors LLC lifted its stake in shares of Carpenter Technology by 7.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after purchasing an additional 169 shares during the period. Morse Asset Management Inc purchased a new position in Carpenter Technology in the third quarter valued at $84,000. Barclays PLC raised its position in shares of Carpenter Technology by 471.1% in the third quarter. Barclays PLC now owns 101,745 shares of the basic materials company’s stock worth $16,236,000 after acquiring an additional 83,930 shares during the period. Geode Capital Management LLC raised its position in shares of Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after acquiring an additional 17,497 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth about $80,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of several recent analyst reports. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research upgraded Carpenter Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Trading Up 1.8 %

Shares of Carpenter Technology stock opened at $170.72 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a twelve month low of $74.21 and a twelve month high of $213.66. The firm has a market capitalization of $8.53 billion, a PE ratio of 32.21, a P/E/G ratio of 0.93 and a beta of 1.28. The firm’s 50-day moving average price is $185.49 and its 200 day moving average price is $180.34.

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

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.47%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

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.