Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Citigroup Inc.

Citigroup Inc. lifted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 76.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 63,137 shares of the basic materials company's stock after purchasing an additional 27,418 shares during the quarter. Citigroup Inc. owned about 0.13% of Carpenter Technology worth $10,075,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Comerica Bank lifted its holdings in Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company's stock worth $4,812,000 after buying an additional 42,449 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Carpenter Technology during the second quarter worth about $1,208,000. Natixis Advisors LLC increased its position in shares of Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock worth $3,801,000 after acquiring an additional 1,343 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Carpenter Technology in the second quarter worth about $1,460,000. Finally, Intech Investment Management LLC purchased a new position in Carpenter Technology in the second quarter valued at about $552,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Down 0.2 %

Carpenter Technology stock traded down $0.42 during midday trading on Friday, hitting $194.04. The stock had a trading volume of 283,217 shares, compared to its average volume of 593,276. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average price of $167.49 and a 200 day moving average price of $138.53. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The stock has a market cap of $9.67 billion, a P/E ratio of 43.22, a P/E/G ratio of 0.97 and a beta of 1.46.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business's revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. Research analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday, November 22nd. They set an "overweight" rating and a $220.00 price objective on the stock. Benchmark reissued 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $153.00.

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.