Cibc World Markets Corp Buys New Position in Carpenter Technology Co. (NYSE:CRS)

Cibc World Markets Corp acquired a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,453 shares of the basic materials company's stock, valued at approximately $756,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after buying an additional 479,985 shares during the period. Forest Avenue Capital Management LP bought a new stake in shares of Carpenter Technology in the third quarter valued at $25,262,000. Raymond James Financial Inc. purchased a new position in shares of Carpenter Technology during the 4th quarter valued at $18,731,000. Finally, Holocene Advisors LP bought a new position in shares of Carpenter Technology during the 3rd quarter worth $17,337,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Price Performance

CRS stock traded down $6.08 during mid-day trading on Wednesday, reaching $189.40. 411,535 shares of the company traded hands, compared to its average volume of 672,124. The company has a fifty day moving average price of $195.00 and a 200-day moving average price of $178.28. Carpenter Technology Co. has a 52-week low of $67.52 and a 52-week high of $213.66. The company has a market capitalization of $9.46 billion, a P/E ratio of 35.73, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

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Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

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