Mission Wealth Management LP Has $328,000 Stake in Carpenter Technology Co. (NYSE:CRS)

Mission Wealth Management LP trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the basic materials company’s stock after selling 434 shares during the period. Mission Wealth Management LP’s holdings in Carpenter Technology were worth $328,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC grew its stake in Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after buying an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC grew its stake in Carpenter Technology by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after buying an additional 17,497 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after buying an additional 103,559 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Carpenter Technology by 428.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after buying an additional 479,985 shares in the last quarter. Finally, Avala Global LP boosted its stake in shares of Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after purchasing an additional 73,400 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 0.6 %

Shares of NYSE CRS opened at $203.24 on Thursday. The company has a 50 day simple moving average of $193.16 and a 200 day simple moving average of $173.60. The firm has a market cap of $10.15 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a 1 year low of $63.58 and a 1 year high of $213.66. 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 issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.39%. Carpenter Technology’s payout ratio is 15.09%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRS. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.17.

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.