Fmr LLC Acquires 1,108,963 Shares of Carpenter Technology Co. (NYSE:CRS)

FMR LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 47.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,465,295 shares of the basic materials company's stock after purchasing an additional 1,108,963 shares during the quarter. FMR LLC owned 6.95% of Carpenter Technology worth $552,992,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology during the second quarter worth $33,000. National Bank of Canada FI bought a new position in Carpenter Technology during the second quarter worth about $49,000. EverSource Wealth Advisors LLC grew its stake in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 178 shares during the period. nVerses Capital LLC bought a new stake in shares of Carpenter Technology in the third quarter worth about $64,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology during the third quarter worth about $65,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 0.2 %

CRS traded down $0.42 on Friday, hitting $194.04. 283,217 shares of the company were exchanged, compared to its average volume of 593,276. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock's fifty day moving average is $166.74 and its 200-day moving average is $137.90. The company has a market cap of $9.67 billion, a PE ratio of 43.48, a PEG ratio of 0.97 and a beta of 1.46. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24.

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

Carpenter Technology Dividend Announcement

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

Analyst Ratings Changes

CRS has been the subject of a number of research reports. Benchmark reissued a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price target for the company. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.00.

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.