First Eagle Investment Management LLC Has $8.39 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

First Eagle Investment Management LLC decreased its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 52.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,454 shares of the basic materials company's stock after selling 54,000 shares during the period. First Eagle Investment Management LLC owned 0.10% of Carpenter Technology worth $8,393,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC grew its holdings in 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 during the period. Allspring Global Investments Holdings LLC grew its holdings in 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 during the period. Forest Avenue Capital Management LP bought a new position in Carpenter Technology during the third quarter worth about $25,262,000. Raymond James Financial Inc. bought a new position in Carpenter Technology during the fourth quarter worth about $18,731,000. Finally, Holocene Advisors LP bought a new position in Carpenter Technology during the third quarter worth about $17,337,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Performance

CRS stock traded up $9.39 during mid-day trading on Wednesday, hitting $190.93. 673,999 shares of the company were exchanged, compared to its average volume of 664,668. The business has a 50 day simple moving average of $194.80 and a 200-day simple moving average of $176.39. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.54 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 1-year low of $66.00 and a 1-year high of $213.66.

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Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Carpenter Technology's payout ratio is 15.09%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $167.17.

Carpenter Technology 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.