Carpenter Technology Co. (NYSE:CRS) Stake Boosted by Voya Investment Management LLC

Voya Investment Management LLC raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 905.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 323,831 shares of the basic materials company's stock after purchasing an additional 291,631 shares during the period. Voya Investment Management LLC owned about 0.65% of Carpenter Technology worth $54,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC raised its position in shares of Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after purchasing an additional 127 shares during the period. UMB Bank n.a. lifted its holdings in shares of Carpenter Technology by 169.0% in the 4th 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 last quarter. Wilmington Savings Fund Society FSB acquired a new position in Carpenter Technology during the 3rd quarter valued at approximately $80,000. Finally, Morse Asset Management Inc bought a new position in Carpenter Technology during the 3rd quarter worth $84,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 0.4 %

Carpenter Technology stock opened at $198.70 on Friday. Carpenter Technology Co. has a 52 week low of $81.99 and a 52 week high of $213.66. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 0.93 and a beta of 1.28. The company's 50-day moving average price is $183.39 and its two-hundred day moving average price is $181.64. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.14. The business had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology declared that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRS. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $167.17.

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.

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