Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Fmr LLC

FMR LLC lifted its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,444,608 shares of the basic materials company's stock after buying an additional 979,313 shares during the period. FMR LLC owned about 8.90% of Carpenter Technology worth $754,295,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Pictet Asset Management Holding SA increased its stake in Carpenter Technology by 14.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,865 shares of the basic materials company's stock worth $1,165,000 after acquiring an additional 877 shares during the last quarter. Tidal Investments LLC raised its holdings in Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock valued at $3,364,000 after buying an additional 10,094 shares during the period. Manuka Financial LLC bought a new stake in Carpenter Technology in the fourth quarter worth $368,000. Park Avenue Securities LLC purchased a new position in shares of Carpenter Technology during the fourth quarter valued at approximately $419,000. Finally, XML Financial LLC lifted its stake in shares of Carpenter Technology by 215.3% during the 4th quarter. XML Financial LLC now owns 9,460 shares of the basic materials company's stock worth $1,605,000 after acquiring an additional 6,460 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

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Carpenter Technology Stock Up 1.8 %

CRS traded up $2.96 on Friday, hitting $170.72. The company had a trading volume of 541,256 shares, compared to its average volume of 735,028. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 0.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The stock has a fifty day moving average price of $185.49 and a 200-day moving average price of $180.34. Carpenter Technology Co. has a 12-month low of $74.21 and a 12-month high of $213.66.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced 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 net margin of 9.34% and a return on equity of 19.88%. Analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Carpenter Technology presently 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.