Carpenter Technology Co. (NYSE:CRS) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 385,495 shares of the basic materials company's stock after purchasing an additional 17,418 shares during the period. Franklin Resources Inc. owned 0.77% of Carpenter Technology worth $65,422,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Carpenter Technology in the fourth quarter valued at approximately $25,000. CIBC Private Wealth Group LLC raised its position in Carpenter Technology by 109.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after purchasing an additional 127 shares during the period. UMB Bank n.a. lifted its stake in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology during the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the 3rd quarter worth about $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Trading Up 4.3 %

NYSE CRS traded up $6.54 during trading on Tuesday, hitting $159.73. The stock had a trading volume of 289,129 shares, compared to its average volume of 831,833. The company has a market capitalization of $7.98 billion, a PE ratio of 30.14, a PEG ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a twelve month low of $74.21 and a twelve month high of $213.66. 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 50 day moving average price of $189.47 and a 200 day moving average price of $180.41.

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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, topping 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, equities research analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price 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. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and an average price target of $167.17.

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.