Edgestream Partners L.P. Takes $5.50 Million Position in Carpenter Technology Co. (NYSE:CRS)

Edgestream Partners L.P. purchased a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,412 shares of the basic materials company's stock, valued at approximately $5,501,000. Edgestream Partners L.P. owned about 0.06% of Carpenter Technology at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRS. FMR LLC increased its holdings in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after buying an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock worth $175,607,000 after acquiring an additional 17,497 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock valued at $122,794,000 after purchasing an additional 103,559 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. Finally, Avala Global LP lifted its position in Carpenter Technology by 21.0% during the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company's stock valued at $67,614,000 after purchasing an additional 73,400 shares during the period. 92.03% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

CRS has been the subject of a number of research analyst reports. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $167.17.

Carpenter Technology Stock Performance

CRS traded down $5.76 during trading on Friday, hitting $180.32. The company's stock had a trading volume of 1,846,958 shares, compared to its average volume of 655,750. Carpenter Technology Co. has a one year low of $63.58 and a one year high of $213.66. The business's 50 day simple moving average is $194.14 and its 200-day simple moving average is $174.35. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The firm has a market cap of $9.01 billion, a PE ratio of 34.02, a P/E/G ratio of 0.93 and a beta of 1.55.

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

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.

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.