Carpenter Technology Co. (NYSE:CRS) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 68.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,705 shares of the basic materials company's stock after buying an additional 40,784 shares during the period. Alliancebernstein L.P. owned about 0.20% of Carpenter Technology worth $17,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in Carpenter Technology during the 4th quarter valued at $25,000. CIBC Private Wealth Group LLC raised its holdings in Carpenter Technology by 109.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after purchasing an additional 127 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc purchased a new stake in Carpenter Technology during the third quarter valued at approximately $84,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.17.

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Carpenter Technology Stock Performance

Shares of NYSE:CRS traded up $2.96 during trading on Friday, hitting $170.72. The stock had a trading volume of 541,256 shares, compared to its average volume of 735,028. The stock has a 50-day simple moving average of $185.49 and a two-hundred day simple moving average of $180.34. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a 12-month low of $74.21 and a 12-month high of $213.66. 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 - 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 the consensus estimate 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 expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Carpenter Technology's dividend payout ratio (DPR) is presently 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.