Allspring Global Investments Holdings LLC Has $103.71 Million Holdings in Carpenter Technology Co. (NYSE:CRS)

Allspring Global Investments Holdings LLC grew its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 428.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 592,034 shares of the basic materials company's stock after purchasing an additional 479,985 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.19% of Carpenter Technology worth $103,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CRS. Cetera Investment Advisers raised its holdings in Carpenter Technology by 4.8% in the 2nd quarter. Cetera Investment Advisers now owns 11,119 shares of the basic materials company's stock worth $1,218,000 after acquiring an additional 506 shares during the period. CWM LLC raised its holdings in Carpenter Technology by 59.0% in the 3rd quarter. CWM LLC now owns 1,464 shares of the basic materials company's stock worth $234,000 after acquiring an additional 543 shares during the period. Procyon Advisors LLC bought a new position in Carpenter Technology in the 3rd quarter worth $230,000. Creative Planning raised its holdings in Carpenter Technology by 55.0% in the 3rd quarter. Creative Planning now owns 11,558 shares of the basic materials company's stock worth $1,844,000 after acquiring an additional 4,100 shares during the period. Finally, nVerses Capital LLC bought a new position in Carpenter Technology in the 3rd quarter worth $64,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Performance

Shares of NYSE:CRS traded up $5.75 on Friday, hitting $188.92. 974,277 shares of the company were exchanged, compared to its average volume of 711,263. The company's 50 day moving average price is $186.67 and its two-hundred day moving average price is $168.34. Carpenter Technology Co. has a one year low of $62.99 and a one year high of $213.65. 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 firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 0.88 and a beta of 1.54.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Carpenter Technology's dividend payout ratio (DPR) is currently 15.09%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Benchmark restated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. 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 MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and an average target price of $155.50.

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.