Citizens Financial Group Inc. RI Buys Shares of 1,975 Carpenter Technology Corporation $CRS

Citizens Financial Group Inc. RI purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,975 shares of the basic materials company’s stock, valued at approximately $1,218,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRS. Wealthcare Advisory Partners LLC boosted its position 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 acquiring an additional 19 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Carpenter Technology by 3.7% in the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 32 shares during the period. Abel Hall LLC grew its position in shares of Carpenter Technology by 3.2% during the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 32 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of 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 purchasing an additional 34 shares during the period. Finally, Essential Partners LLC boosted its stake in Carpenter Technology by 9.9% during the first quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock valued at $149,000 after buying an additional 34 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

CRS opened at $531.25 on Wednesday. The stock has a market capitalization of $26.33 billion, a P/E ratio of 50.50, a PEG ratio of 1.98 and a beta of 1.25. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $625.98. The stock has a 50-day moving average price of $569.98 and a 200-day moving average price of $465.82.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping 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 business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Carpenter Technology’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts predict that Carpenter Technology Corporation will post 12.92 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology’s payout ratio is currently 7.60%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. TD Cowen boosted their target price on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. lowered 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. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. KeyCorp decreased 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. 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, the company currently has a consensus rating of “Buy” and a consensus price target of $577.25.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.