WCM Investment Management LLC grew its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 13.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,756 shares of the basic materials company's stock after acquiring an additional 16,097 shares during the period. WCM Investment Management LLC owned 0.27% of Carpenter Technology worth $22,547,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. boosted its position in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after purchasing an additional 191 shares during the period. nVerses Capital LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter worth about $64,000. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology in the 3rd quarter valued at about $65,000. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology in the 3rd quarter valued at about $80,000. Finally, Morse Asset Management Inc acquired a new stake in Carpenter Technology during the third quarter worth approximately $84,000. Institutional investors and hedge funds own 92.03% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CRS. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Benchmark reiterated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.50.
Check Out Our Latest Stock Analysis on Carpenter Technology
Carpenter Technology Price Performance
Carpenter Technology stock traded up $1.55 during mid-day trading on Wednesday, reaching $186.69. 770,196 shares of the company were exchanged, compared to its average volume of 708,821. The firm has a market cap of $9.33 billion, a PE ratio of 35.22, a PEG ratio of 0.88 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The company has a fifty day simple moving average of $187.00 and a 200-day simple moving average of $167.56. Carpenter Technology Co. has a 12 month low of $60.65 and a 12 month high of $213.65.
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 analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Carpenter Technology's dividend payout ratio (DPR) is 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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