Geode Capital Management LLC Purchases 17,497 Shares of Carpenter Technology Co. (NYSE:CRS)

Geode Capital Management LLC increased its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,100,204 shares of the basic materials company's stock after acquiring an additional 17,497 shares during the period. Geode Capital Management LLC owned about 2.21% of Carpenter Technology worth $175,607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRS. CWM LLC lifted its holdings in shares of Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company's stock valued at $101,000 after acquiring an additional 103 shares during the period. Neo Ivy Capital Management acquired a new position in Carpenter Technology in the second quarter valued at about $1,173,000. Fifth Third Wealth Advisors LLC bought a new stake in Carpenter Technology during the second quarter worth about $237,000. Shelton Wealth Management LLC acquired a new stake in shares of Carpenter Technology during the second quarter worth approximately $1,110,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Carpenter Technology by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the basic materials company's stock valued at $2,740,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRS. Benchmark reissued a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an "overweight" rating and a $220.00 target price for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of "Moderate Buy" and an average target price of $153.00.

Carpenter Technology Stock Up 0.8 %

Shares of NYSE CRS traded up $1.37 during mid-day trading on Monday, reaching $175.46. 608,851 shares of the company's stock were exchanged, compared to its average volume of 595,018. The business has a fifty day simple moving average of $173.18 and a 200 day simple moving average of $144.37. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $198.24. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 0.90 and a beta of 1.52.

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

Carpenter Technology Dividend Announcement

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

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.