Inspire Investing LLC Acquires Shares of 4,844 Carpenter Technology Co. (NYSE:CRS)

Inspire Investing LLC bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,844 shares of the basic materials company’s stock, valued at approximately $822,000.

Several other large investors have also recently made changes to their positions in CRS. Wesbanco Bank Inc. increased its holdings in Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 115 shares during the last quarter. SG Americas Securities LLC increased its holdings in Carpenter Technology by 161.7% in the 4th quarter. SG Americas Securities LLC now owns 9,686 shares of the basic materials company’s stock worth $1,644,000 after acquiring an additional 5,985 shares during the last quarter. XML Financial LLC increased its holdings in Carpenter Technology by 215.3% in the 4th quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock worth $1,605,000 after acquiring an additional 6,460 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Carpenter Technology by 6.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,716 shares of the basic materials company’s stock worth $2,158,000 after acquiring an additional 748 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Carpenter Technology in the 4th quarter worth about $219,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRS. Benchmark reaffirmed a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Stock Performance

Shares of CRS opened at $210.59 on Friday. The company has a market cap of $10.50 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $186.11 and a 200-day moving average price of $160.53. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $213.65.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. As a group, equities analysts forecast that Carpenter Technology Co. will post 6.77 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. Carpenter Technology’s payout ratio is 17.82%.

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.