Encompass Wealth Advisors LLC Acquires New Shares in Carpenter Technology Co. (NYSE:CRS)

Encompass Wealth Advisors LLC acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, Holdings Channel reports. The fund acquired 1,719 shares of the basic materials company’s stock, valued at approximately $50,000.

A number of other large investors also recently added to or reduced their stakes in CRS. Toth Financial Advisory Corp boosted its position in Carpenter Technology by 89.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,042 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 962 shares during the period. Veriti Management LLC acquired a new position in Carpenter Technology during the 4th quarter worth $59,000. Public Employees Retirement System of Ohio boosted its position in Carpenter Technology by 20.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,903 shares of the basic materials company’s stock worth $89,000 after acquiring an additional 830 shares during the period. Trexquant Investment LP acquired a new position in Carpenter Technology during the 4th quarter worth $202,000. Finally, Beaumont Financial Partners LLC acquired a new position in Carpenter Technology during the 4th quarter worth $204,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

A number of brokerages have issued reports on CRS. Cowen reiterated a “hold” rating and set a $30.00 price target on shares of Carpenter Technology in a research report on Friday, February 5th. Zacks Investment Research raised Carpenter Technology from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a research note on Monday, March 8th.

Shares of Carpenter Technology stock opened at $41.19 on Thursday. The stock’s fifty day moving average is $41.85 and its 200-day moving average is $30.03. The firm has a market capitalization of $1.98 billion, a PE ratio of -22.51 and a beta of 2.28. The company has a quick ratio of 2.09, a current ratio of 4.49 and a debt-to-equity ratio of 0.49. Carpenter Technology Co. has a 12-month low of $15.90 and a 12-month high of $48.06.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Wednesday, January 27th. The basic materials company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.03. Carpenter Technology had a positive return on equity of 2.48% and a negative net margin of 4.45%. The firm had revenue of $348.80 million for the quarter, compared to the consensus estimate of $363.00 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business’s quarterly revenue was down 39.1% compared to the same quarter last year. Analysts expect that Carpenter Technology Co. will post -1.69 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Tuesday, February 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, February 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.94%. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s payout ratio is 36.20%.

Carpenter Technology Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. 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 drilling tools, and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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