Gen Wealth Partners Inc Invests $147,000 in Carpenter Technology Co. (NYSE:CRS)

Gen Wealth Partners Inc bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 864 shares of the basic materials company’s stock, valued at approximately $147,000.

A number of other hedge funds have also recently made changes to their positions in CRS. Kestra Investment Management LLC bought a new position in Carpenter Technology in the 4th quarter worth about $25,000. CIBC Private Wealth Group LLC increased its holdings in Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 127 shares during the period. UMB Bank n.a. raised its position in Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after buying an additional 109 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after buying an additional 71 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the completion of the transaction, the director now directly owns 6,732 shares in the company, valued at approximately $1,330,647.12. This trade represents a 33.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $212.49 on Friday. The company has a market cap of $10.58 billion, a P/E ratio of 40.09, a P/E/G ratio of 0.93 and a beta of 1.33. The stock has a 50-day moving average of $183.98 and a two-hundred day moving average of $185.04. Carpenter Technology Co. has a 1-year low of $95.17 and a 1-year high of $215.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.14. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $729.67 million. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. As a group, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology declared that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is presently 11.33%.

Analyst Upgrades and Downgrades

CRS has been the subject of a number of recent research reports. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. Northcoast Research raised shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $168.00.

About Carpenter Technology

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.