26,168 Shares in Carpenter Technology Corporation $CRS Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp purchased a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,168 shares of the basic materials company’s stock, valued at approximately $16,141,000. Carpenter Technology makes up 3.4% of Chase Investment Counsel Corp’s holdings, making the stock its 6th largest holding.

A number of other institutional investors have also bought and sold shares of CRS. Covestor Ltd raised its stake in Carpenter Technology by 334.3% during the 4th quarter. Covestor Ltd now owns 3,492 shares of the basic materials company’s stock valued at $1,099,000 after purchasing an additional 2,688 shares during the period. Peregrine Asset Advisers Inc. bought a new position in Carpenter Technology in the 4th quarter worth approximately $4,062,000. SteelPeak Wealth LLC bought a new position in Carpenter Technology in the 1st quarter worth approximately $2,593,000. Brookstone Capital Management purchased a new stake in Carpenter Technology during the 1st quarter valued at approximately $2,876,000. Finally, Royal Bank of Canada grew its holdings in Carpenter Technology by 22.5% during the 1st quarter. Royal Bank of Canada now owns 35,870 shares of the basic materials company’s stock valued at $14,138,000 after buying an additional 6,584 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 0.1%

NYSE 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 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 Corporation has a one year low of $228.00 and a one year high of $625.98. The stock has a 50 day moving average price of $569.01 and a 200-day moving average price of $463.05.

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

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.1%. Carpenter Technology’s dividend payout ratio (DPR) is 7.60%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRS shares. KeyCorp reduced their price objective on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. 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. JPMorgan Chase & Co. cut their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price target on shares of Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $577.25.

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.