Carpenter Technology Co. (NYSE:CRS) Stock Position Increased by Blue Grotto Capital LLC

Blue Grotto Capital LLC grew its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,800 shares of the basic materials company's stock after acquiring an additional 17,317 shares during the period. Carpenter Technology comprises 8.6% of Blue Grotto Capital LLC's portfolio, making the stock its largest position. Blue Grotto Capital LLC owned 0.56% of Carpenter Technology worth $47,145,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock worth $122,794,000 after purchasing an additional 103,559 shares during the period. Citigroup Inc. grew its stake in shares of Carpenter Technology by 76.8% in the third quarter. Citigroup Inc. now owns 63,137 shares of the basic materials company's stock worth $10,075,000 after acquiring an additional 27,418 shares during the period. Cerity Partners LLC purchased a new stake in Carpenter Technology during the 3rd quarter valued at $540,000. Fisher Asset Management LLC lifted its holdings in Carpenter Technology by 3.9% in the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company's stock valued at $58,137,000 after acquiring an additional 13,815 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in Carpenter Technology by 12,878.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 5,321 shares of the basic materials company's stock valued at $850,000 after buying an additional 5,280 shares during the period. 92.03% of the stock is owned by institutional investors.

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Carpenter Technology Stock Performance

NYSE:CRS traded down $4.49 during midday trading on Friday, hitting $181.32. The company's stock had a trading volume of 464,566 shares, compared to its average volume of 719,720. The firm has a market cap of $9.06 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. The firm's 50 day moving average is $194.01 and its 200-day moving average is $178.72. Carpenter Technology Co. has a fifty-two week low of $70.20 and a fifty-two week high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

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

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

Analyst Ratings Changes

A number of research firms have commented on CRS. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and a consensus price target 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.