OneDigital Investment Advisors LLC Makes New $685,000 Investment in Carpenter Technology Corporation $CRS

OneDigital Investment Advisors LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,111 shares of the basic materials company’s stock, valued at approximately $685,000.

Other hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC lifted its stake in Carpenter Technology by 1.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock valued at $708,000 after purchasing an additional 19 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after buying an additional 32 shares during the last quarter. Abel Hall LLC grew its stake in shares of Carpenter Technology by 3.2% during the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after buying an additional 32 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Carpenter Technology by 0.3% during 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 buying an additional 34 shares in the last quarter. Finally, Essential Partners LLC increased its holdings in shares of Carpenter Technology by 9.9% during the first quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock worth $149,000 after buying an additional 34 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

NYSE:CRS opened at $531.25 on Wednesday. The company has a market capitalization of $26.33 billion, a PE ratio of 50.50, a P/E/G ratio of 1.98 and a beta of 1.25. The company has a 50 day simple moving average of $569.98 and a two-hundred day simple moving average of $465.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $863.33 million. During the same quarter in the previous year, the company earned $2.21 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts anticipate that Carpenter Technology Corporation will post 12.92 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is currently 7.60%.

Analyst Upgrades and Downgrades

CRS has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Susquehanna lowered their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a report on Friday, July 31st. TD Cowen increased their target price on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Carpenter Technology currently has a consensus rating of “Buy” and an average target price of $577.25.

Carpenter Technology Company 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.