Naples Money Management LLC Invests $1.96 Million in Carpenter Technology Co. (NYSE:CRS)

Naples Money Management LLC purchased a new position in Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 27,629 shares of the basic materials company’s stock, valued at approximately $1,956,000. Carpenter Technology comprises about 1.8% of Naples Money Management LLC’s investment portfolio, making the stock its 26th biggest holding. Naples Money Management LLC owned 0.06% of Carpenter Technology as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Carpenter Technology in the first quarter worth approximately $26,000. Tower Research Capital LLC TRC lifted its position in 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 in the last quarter. Fifth Third Bancorp boosted its stake in Carpenter Technology by 322.5% during the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 887 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Carpenter Technology during the third quarter valued at $91,000. Finally, Strs Ohio boosted its holdings in shares of 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 acquiring an additional 2,000 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS traded down $1.36 during trading hours on Friday, reaching $78.02. The company had a trading volume of 683,433 shares, compared to its average volume of 488,227. The company has a current ratio of 2.90, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. Carpenter Technology Co. has a 52 week low of $44.40 and a 52 week 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 firm’s 50 day moving average price is $69.44 and its 200-day moving average price is $67.58.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 25th. The basic materials company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $669.56 million. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. On average, analysts forecast that Carpenter Technology Co. will post 3.96 EPS 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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.03%. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s payout ratio is 27.68%.

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.