California Public Employees Retirement System lifted its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,899 shares of the basic materials company's stock after acquiring an additional 4,495 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Carpenter Technology worth $14,238,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in CRS. Geode Capital Management LLC raised its stake in shares of 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 worth $175,607,000 after purchasing an additional 17,497 shares during the last quarter. Norges Bank bought a new position in Carpenter Technology during the 4th quarter valued at $100,505,000. Allspring Global Investments Holdings LLC boosted its holdings in Carpenter Technology by 428.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock worth $103,714,000 after acquiring an additional 479,985 shares during the last quarter. American Century Companies Inc. boosted its holdings in Carpenter Technology by 7.6% during the 4th quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company's stock worth $87,765,000 after acquiring an additional 36,606 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Carpenter Technology by 7.1% in the 4th quarter. Fisher Asset Management LLC now owns 390,229 shares of the basic materials company's stock worth $66,226,000 after acquiring an additional 25,917 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CRS. 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. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $167.17.
View Our Latest Analysis on Carpenter Technology
Carpenter Technology Stock Performance
CRS traded up $21.83 during trading hours on Wednesday, hitting $173.13. The stock had a trading volume of 1,895,237 shares, compared to its average volume of 733,905. Carpenter Technology Co. has a 1 year low of $74.21 and a 1 year high of $213.66. The company's fifty day simple moving average is $186.39 and its 200 day simple moving average is $180.22. The stock has a market cap of $8.65 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. 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 posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. Equities analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.
Carpenter Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Carpenter Technology's dividend payout ratio is currently 15.09%.
About Carpenter Technology
(
Free Report)
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.
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