KLP Kapitalforvaltning AS Makes New $1.61 Million Investment in Carpenter Technology Co. (NYSE:CRS)

KLP Kapitalforvaltning AS acquired a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,500 shares of the basic materials company's stock, valued at approximately $1,612,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in shares of Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after acquiring an additional 1,108,963 shares during the period. Geode Capital Management LLC grew its holdings in Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after purchasing an additional 17,497 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after purchasing an additional 479,985 shares during the period. American Century Companies Inc. increased its position in shares of Carpenter Technology by 7.6% in the fourth quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company's stock valued at $87,765,000 after buying an additional 36,606 shares in the last quarter. Finally, Avala Global LP raised its stake in shares of Carpenter Technology by 21.0% during the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company's stock worth $67,614,000 after buying an additional 73,400 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $167.17.

Carpenter Technology Price Performance

Shares of NYSE CRS traded up $4.51 during mid-day trading on Wednesday, reaching $187.20. The company's stock had a trading volume of 620,058 shares, compared to its average volume of 720,164. The stock has a 50-day moving average of $192.52 and a two-hundred day moving average of $179.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The stock has a market capitalization of $9.35 billion, a P/E ratio of 35.32, a P/E/G ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a 1-year low of $70.73 and a 1-year high of $213.66.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS 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%. On average, equities research analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's dividend payout ratio (DPR) is currently 15.09%.

Carpenter Technology 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.