American Century Companies Inc. Acquires 36,606 Shares of Carpenter Technology Co. (NYSE:CRS)

American Century Companies Inc. lifted its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 517,142 shares of the basic materials company's stock after buying an additional 36,606 shares during the quarter. American Century Companies Inc. owned approximately 1.04% of Carpenter Technology worth $87,765,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FMR LLC raised its holdings in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC lifted its position in Carpenter Technology by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after purchasing an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock worth $122,794,000 after buying an additional 103,559 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Carpenter Technology by 428.4% in 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 buying an additional 479,985 shares during the last quarter. Finally, Avala Global LP raised its position in shares of Carpenter Technology by 21.0% during the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company's stock valued at $67,614,000 after buying an additional 73,400 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

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Carpenter Technology Trading Down 2.4 %

CRS traded down $4.49 on Friday, hitting $181.32. 464,566 shares of the company were exchanged, compared to its average volume of 719,720. The firm has a fifty day simple moving average of $194.01 and a two-hundred day simple moving average of $178.72. Carpenter Technology Co. has a 12 month low of $70.20 and a 12 month high of $213.66. 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 stock has a market capitalization of $9.06 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Sell-side analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a $0.20 dividend. 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 payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRS shares. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Carpenter Technology currently 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.