Summit Global Investments Acquires New Position in Carpenter Technology Co. (NYSE:CRS)

Summit Global Investments bought a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,039 shares of the basic materials company's stock, valued at approximately $516,000.

A number of other large investors have also recently bought and sold shares of CRS. Stratos Wealth Partners LTD. raised its stake in shares of Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock valued at $410,000 after buying an additional 63 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 71 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 78 shares during the period. Fifth Third Bancorp lifted its holdings in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock valued at $97,000 after acquiring an additional 109 shares during the period. Finally, Wesbanco Bank Inc. boosted its position in Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock worth $1,663,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

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Carpenter Technology Price Performance

NYSE CRS traded down $4.49 on Friday, hitting $181.32. The company had a trading volume of 464,566 shares, compared to its average volume of 719,720. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The company's fifty day moving average price is $194.01 and its 200-day moving average price is $178.72. The company has a market capitalization of $9.06 billion, a PE ratio of 34.21, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 12-month low of $70.20 and a 12-month high of $213.66.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping 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%. As a group, analysts predict 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 was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price 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. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $167.17.

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.