Franklin Resources Inc. Boosts Stock Position in Carpenter Technology Co. (NYSE:CRS)

Franklin Resources Inc. boosted its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 368,077 shares of the basic materials company's stock after acquiring an additional 32,442 shares during the period. Franklin Resources Inc. owned 0.74% of Carpenter Technology worth $57,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock worth $3,364,000 after purchasing an additional 10,094 shares during the period. Fisher Asset Management LLC increased its holdings in Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company's stock worth $58,137,000 after purchasing an additional 13,815 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Carpenter Technology by 6.0% in the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock valued at $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology during the third quarter valued at approximately $25,262,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Carpenter Technology by 15.6% during the 3rd 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. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Trading Down 1.7 %

Shares of NYSE:CRS traded down $2.95 during midday trading on Tuesday, hitting $172.51. 898,314 shares of the stock traded hands, compared to its average volume of 596,267. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $198.24. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $173.49 and its two-hundred day moving average is $144.82. The stock has a market capitalization of $8.60 billion, a PE ratio of 38.43, a P/E/G ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating 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 business had revenue of $717.60 million for the quarter, compared to analysts' expectations of $742.96 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology's payout ratio is currently 17.82%.

Analyst Ratings Changes

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