Naples Money Management LLC Acquires New Position in Carpenter Technology Co. (NYSE:CRS)

Naples Money Management LLC bought a new position in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, Holdings Channel reports. The firm bought 27,629 shares of the basic materials company’s stock, valued at approximately $1,956,000. Carpenter Technology accounts for approximately 1.8% of Naples Money Management LLC’s investment portfolio, making the stock its 26th largest position.

Several other large investors also recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in shares of Carpenter Technology in the first quarter worth $26,000. Tower Research Capital LLC TRC increased its position in shares of Carpenter Technology by 124.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 543 shares during the period. Fifth Third Bancorp raised its stake in Carpenter Technology by 322.5% in the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 887 shares during the last quarter. NBC Securities Inc. acquired a new stake in Carpenter Technology during the 3rd quarter worth about $91,000. Finally, Strs Ohio grew its stake in Carpenter Technology by 400.0% during the 3rd quarter. Strs Ohio now owns 2,500 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock traded down $1.36 during mid-day trading on Friday, reaching $78.02. The stock had a trading volume of 683,433 shares, compared to its average volume of 488,227. Carpenter Technology Co. has a 1-year low of $44.40 and a 1-year high of $82.16. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 27.00 and a beta of 1.56. The company has a current ratio of 2.90, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average is $69.44 and its 200-day moving average is $67.58.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 25th. The basic materials company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $669.56 million. On average, research analysts forecast that Carpenter Technology Co. will post 3.96 earnings per share for the current year.

Carpenter Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, April 22nd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is 27.68%.

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.