1,111 Shares in Carpenter Technology Corporation $CRS Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,111 shares of the basic materials company’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jennison Associates LLC acquired a new stake in shares of Carpenter Technology during the 1st quarter worth approximately $317,411,000. Sands Capital Management LLC acquired a new stake in Carpenter Technology in the fourth quarter worth $195,731,000. Norges Bank bought a new stake in Carpenter Technology in the fourth quarter valued at $195,254,000. TOMS Capital Investment Management LP acquired a new position in shares of Carpenter Technology during the second quarter valued at about $106,683,000. Finally, UBS Group AG raised its holdings in shares of Carpenter Technology by 171.2% during the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after purchasing an additional 382,865 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CRS shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. Susquehanna cut their price target on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a report on Friday, July 31st. KeyCorp reduced their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company 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. Finally, JPMorgan Chase & Co. lowered their target price on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $577.25.

Carpenter Technology Stock Down 2.1%

CRS stock opened at $531.25 on Wednesday. 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 stock’s 50 day moving average is $569.98 and its 200-day moving average is $465.82. The firm has a market capitalization of $26.33 billion, a PE ratio of 50.50, a P/E/G ratio of 1.98 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.14. The business had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.Carpenter Technology’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.21 earnings per share. Sell-side analysts expect that Carpenter Technology Corporation will post 12.92 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s payout ratio is currently 7.60%.

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.