Zurcher Kantonalbank Zurich Cantonalbank Buys 1,717 Shares of Carpenter Technology Co. (NYSE:CRS)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,967 shares of the basic materials company's stock after buying an additional 1,717 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Carpenter Technology were worth $2,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC grew its position in shares of Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after purchasing an additional 1,108,963 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 in the last quarter. Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology during the third quarter worth about $25,262,000. Raymond James Financial Inc. purchased a new stake in shares of Carpenter Technology during the fourth quarter worth about $18,731,000. Finally, Holocene Advisors LP purchased a new stake in shares of Carpenter Technology during the third quarter worth about $17,337,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

CRS has been the subject of several research analyst reports. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. increased 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, February 19th. 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, the company presently has an average rating of "Moderate Buy" and an average target price of $167.17.

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Carpenter Technology Price Performance

Carpenter Technology stock traded down $4.41 during midday trading on Thursday, reaching $186.20. 555,115 shares of the stock traded hands, compared to its average volume of 665,111. The stock's fifty day moving average is $194.95 and its 200-day moving average is $176.49. Carpenter Technology Co. has a 12 month low of $67.24 and a 12 month high of $213.66. The stock has a market cap of $9.30 billion, a P/E ratio of 35.13, a PEG ratio of 0.93 and a beta of 1.55. 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 data 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 return on equity of 19.88% and a net margin of 9.34%. As a group, equities research analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's payout ratio is 15.09%.

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.