Geode Capital Management LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,138,615 shares of the basic materials company's stock after buying an additional 38,411 shares during the quarter. Geode Capital Management LLC owned approximately 2.28% of Carpenter Technology worth $193,279,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CRS. Norges Bank bought a new stake in shares of Carpenter Technology in the 4th quarter worth approximately $100,505,000. Allspring Global Investments Holdings LLC raised its holdings in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock worth $103,714,000 after purchasing an additional 479,985 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Carpenter Technology by 120.4% in the 4th quarter. JPMorgan Chase & Co. now owns 331,874 shares of the basic materials company's stock worth $56,322,000 after purchasing an additional 181,317 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Carpenter Technology during the 4th quarter valued at about $18,731,000. Finally, Wellington Management Group LLP increased its position in shares of Carpenter Technology by 64.8% during the fourth quarter. Wellington Management Group LLP now owns 249,095 shares of the basic materials company's stock valued at $42,274,000 after buying an additional 97,978 shares during the period. Hedge funds and other institutional investors own 92.03% of the company's stock.
Wall Street Analysts Forecast Growth
CRS has been the subject of several research analyst reports. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a report on Friday, January 31st. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.17.
Check Out Our Latest Report on CRS
Carpenter Technology Stock Up 1.8 %
Shares of NYSE CRS traded up $2.96 on Friday, reaching $170.72. 541,256 shares of the company's stock traded hands, compared to its average volume of 735,028. The business's 50 day simple moving average is $185.49 and its two-hundred day simple moving average is $180.34. Carpenter Technology Co. has a 12 month low of $74.21 and a 12 month high of $213.66. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly 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 return on equity of 19.88% and a net margin of 9.34%. As a group, equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.
Carpenter Technology Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.47%. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.
Carpenter Technology Profile
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Free Report)
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.
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