Charles Schwab Investment Management Inc. Boosts Stock Position in Carpenter Technology Co. (NYSE:CRS)

Charles Schwab Investment Management Inc. lifted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 15.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 769,485 shares of the basic materials company's stock after buying an additional 103,559 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.54% of Carpenter Technology worth $122,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Comerica Bank increased its stake in Carpenter Technology by 170.3% during the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company's stock worth $4,812,000 after acquiring an additional 42,449 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth about $1,208,000. Natixis Advisors LLC raised its holdings in Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock valued at $3,801,000 after buying an additional 1,343 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Carpenter Technology by 17.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,698 shares of the basic materials company's stock valued at $3,551,000 after buying an additional 7,562 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in Carpenter Technology during the second quarter worth about $1,460,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Up 0.5 %

CRS stock traded up $1.05 during midday trading on Tuesday, hitting $196.14. The company's stock had a trading volume of 536,265 shares, compared to its average volume of 595,010. The firm has a 50-day simple moving average of $163.94 and a 200-day simple moving average of $136.46. The firm has a market capitalization of $9.78 billion, a P/E ratio of 43.68, a PEG ratio of 0.97 and a beta of 1.46. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $198.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same period last year, the business posted $0.88 earnings per share. Carpenter Technology's revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Carpenter Technology Co. will post 6.61 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology's payout ratio is 17.82%.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of research analyst reports. BTIG Research boosted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research report on Friday. They issued an "overweight" rating and a $220.00 target price on the stock. Finally, Benchmark restated a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and an average target price of $153.00.

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.