Allworth Financial LP Acquires 6,888 Shares of Carpenter Technology Co. (NYSE:CRS)

Allworth Financial LP lifted its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 31,309.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,910 shares of the basic materials company's stock after buying an additional 6,888 shares during the quarter. Allworth Financial LP's holdings in Carpenter Technology were worth $1,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Carpenter Technology by 12.8% in the fourth quarter. Rhumbline Advisers now owns 166,362 shares of the basic materials company's stock valued at $28,233,000 after buying an additional 18,820 shares in the last quarter. New Mexico Educational Retirement Board bought a new position in Carpenter Technology during the fourth quarter worth $1,782,000. Roman Butler Fullerton & Co. boosted its position in Carpenter Technology by 20.8% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,966 shares of the basic materials company's stock worth $1,691,000 after purchasing an additional 1,717 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Carpenter Technology by 428.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock worth $103,714,000 after purchasing an additional 479,985 shares during the period. Finally, Wealthstar Advisors LLC bought a new position in Carpenter Technology during the fourth quarter worth $519,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRS. Benchmark reissued a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.33.

Carpenter Technology Trading Down 6.2 %

Shares of NYSE:CRS traded down $12.80 during midday trading on Friday, hitting $195.21. 1,204,543 shares of the stock were exchanged, compared to its average volume of 801,532. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 0.93 and a beta of 1.54. 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 business's 50-day moving average price is $188.87 and its 200 day moving average price is $170.14. Carpenter Technology Co. has a 12 month low of $62.99 and a 12 month high of $213.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results 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 return on equity of 19.88% and a net margin of 9.34%. Analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology's payout ratio is presently 15.09%.

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.