Howard Capital Management Inc. Invests $787,000 in Carpenter Technology Co. (NYSE:CRS)

Howard Capital Management Inc. acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,640 shares of the basic materials company’s stock, valued at approximately $787,000.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Carpenter Technology by 91.9% in the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after acquiring an additional 10,094 shares during the last quarter. Fisher Asset Management LLC grew its position in Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after purchasing an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in Carpenter Technology during the 3rd quarter valued at about $25,262,000. Natixis Advisors LLC increased its stake in Carpenter Technology by 6.0% during the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Carpenter Technology in the fourth quarter worth about $419,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Carpenter Technology Stock Down 6.2 %

CRS opened at $195.21 on Monday. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 0.93 and a beta of 1.54. The firm has a 50 day moving average price of $188.87 and a 200-day moving average price of $170.62. Carpenter Technology Co. has a twelve month low of $62.99 and a twelve month high of $213.65. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Equities research analysts forecast that Carpenter Technology Co. will post 6.83 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, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology’s payout ratio is 15.09%.

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.