Roman Butler Fullerton & Co. Acquires New Holdings in Carpenter Technology Corporation $CRS

Roman Butler Fullerton & Co. purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,740 shares of the basic materials company’s stock, valued at approximately $2,687,000.

A number of other institutional investors also recently made changes to their positions in CRS. Wealthcare Advisory Partners LLC lifted its holdings in shares of Carpenter Technology by 1.7% in the second quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock valued at $708,000 after buying an additional 19 shares during the period. Meeder Advisory Services Inc. grew its holdings in Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 32 shares during the period. Abel Hall LLC raised its position in Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 32 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Carpenter Technology by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after acquiring an additional 34 shares in the last quarter. Finally, Essential Partners LLC lifted its holdings in Carpenter Technology by 9.9% in the 1st quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 34 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRS. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Zacks Research raised shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. BTIG Research lifted their price target on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, TD Cowen increased their price objective on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Buy” and a consensus price target of $577.25.

Carpenter Technology Stock Down 0.1%

Shares of CRS opened at $543.90 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The company has a 50-day simple moving average of $569.01 and a 200-day simple moving average of $463.05. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98. The firm has a market capitalization of $26.96 billion, a P/E ratio of 51.70, a P/E/G ratio of 1.98 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The firm had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same period in the previous year, the company posted $2.21 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Carpenter Technology Corporation will post 12.92 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology’s payout ratio is 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.