HighTower Advisors LLC Grows Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

HighTower Advisors LLC lifted its position in shares of Carpenter Technology Co. (NYSE:CRS) by 57.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,360 shares of the basic materials company’s stock after purchasing an additional 8,168 shares during the period. HighTower Advisors LLC’s holdings in Carpenter Technology were worth $3,795,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dearborn Partners LLC lifted its position in shares of Carpenter Technology by 9.3% during the 4th quarter. Dearborn Partners LLC now owns 2,787 shares of the basic materials company’s stock worth $473,000 after purchasing an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Carpenter Technology by 15.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,967 shares of the basic materials company’s stock valued at $2,201,000 after acquiring an additional 1,717 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Carpenter Technology in the fourth quarter valued at $5,501,000. Inceptionr LLC purchased a new stake in Carpenter Technology in the fourth quarter valued at $462,000. Finally, Raymond James Financial Inc. purchased a new stake in Carpenter Technology in the fourth quarter valued at $18,731,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRS. JPMorgan Chase & Co. boosted their price target 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. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $186.20 on Friday. The company has a 50-day simple moving average of $195.00 and a 200-day simple moving average of $176.55. Carpenter Technology Co. has a one year low of $67.52 and a one year high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its 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%. On average, analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued 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 0.43%. Carpenter Technology’s dividend payout ratio is currently 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.