HighTower Advisors LLC boosted its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 57.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,360 shares of the basic materials company's stock after acquiring an additional 8,168 shares during the quarter. HighTower Advisors LLC's holdings in Carpenter Technology were worth $3,795,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $25,000. UMB Bank n.a. grew its position in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Carpenter Technology in the third quarter worth about $65,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology in the third quarter worth about $80,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $84,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on CRS shares. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price 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 equities research 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 a consensus rating of "Moderate Buy" and a consensus price target of $167.17.
Get Our Latest Stock Report on Carpenter Technology
Carpenter Technology Price Performance
CRS traded up $11.87 during trading on Monday, reaching $195.68. The company's stock had a trading volume of 645,014 shares, compared to its average volume of 672,867. 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 fifty day simple moving average of $194.95 and a two-hundred day simple moving average of $177.42. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 1 year low of $67.52 and a 1 year high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.
Carpenter Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology's payout ratio is 15.09%.
Carpenter Technology Company 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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