New Age Alpha Advisors LLC Makes New $518,000 Investment in Carpenter Technology Co. (NYSE:CRS)

New Age Alpha Advisors LLC acquired a new position in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,052 shares of the basic materials company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Carpenter Technology in the 4th quarter worth approximately $100,505,000. JPMorgan Chase & Co. boosted its holdings in shares of Carpenter Technology by 120.4% during the 4th quarter. JPMorgan Chase & Co. now owns 331,874 shares of the basic materials company’s stock valued at $56,322,000 after purchasing an additional 181,317 shares during the last quarter. Blue Grotto Capital LLC grew its position in shares of Carpenter Technology by 6.6% during the fourth quarter. Blue Grotto Capital LLC now owns 277,800 shares of the basic materials company’s stock valued at $47,145,000 after purchasing an additional 17,317 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Carpenter Technology in the fourth quarter worth about $206,000. Finally, Sheets Smith Investment Management purchased a new stake in shares of Carpenter Technology in the fourth quarter worth about $1,773,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Stock Up 0.8 %

Shares of CRS opened at $182.58 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. Carpenter Technology Co. has a 52-week low of $70.20 and a 52-week high of $213.66. The company has a market cap of $9.12 billion, a PE ratio of 34.45, a P/E/G ratio of 0.93 and a beta of 1.55. The business has a fifty day moving average of $192.92 and a 200 day moving average of $179.91.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping 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, sell-side analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a dividend of $0.20 per share. 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 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.