UMB Bank n.a. Grows Stock Position in Carpenter Technology Co. (NYSE:CRS)

UMB Bank n.a. raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 169.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 304 shares of the basic materials company’s stock after purchasing an additional 191 shares during the period. UMB Bank n.a.’s holdings in Carpenter Technology were worth $52,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRS. Strengthening Families & Communities LLC grew its position in shares of Carpenter Technology by 0.6% in the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after purchasing an additional 100 shares during the last quarter. Burney Co. lifted its stake in Carpenter Technology by 6.2% in the 4th quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock valued at $347,000 after buying an additional 120 shares in the last quarter. KBC Group NV grew its holdings in Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after buying an additional 161 shares during the last quarter. Arete Wealth Advisors LLC increased its position in Carpenter Technology by 7.5% during the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock worth $384,000 after buying an additional 169 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Down 0.9 %

Shares of NYSE:CRS opened at $210.59 on Friday. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $213.65. The stock’s 50-day moving average price is $186.11 and its two-hundred day moving average price is $160.53. 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 firm has a market cap of $10.50 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 0.98 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its 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 net margin of 8.05% and a return on equity of 18.01%. Carpenter Technology’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, research analysts forecast that Carpenter Technology Co. will post 6.77 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio is presently 17.82%.

Analysts Set New Price Targets

CRS has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $153.00.

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.