Intech Investment Management LLC boosted its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 223.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,510 shares of the basic materials company's stock after buying an additional 45,249 shares during the quarter. Intech Investment Management LLC owned approximately 0.13% of Carpenter Technology worth $11,118,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRS. Victory Capital Management Inc. lifted its stake in Carpenter Technology by 54.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,068 shares of the basic materials company's stock valued at $3,681,000 after buying an additional 8,095 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Carpenter Technology in the 3rd quarter valued at about $571,000. KBC Group NV lifted its stake in Carpenter Technology by 13.5% in the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock valued at $216,000 after buying an additional 161 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in Carpenter Technology in the 3rd quarter worth approximately $293,000. Finally, CIBC Asset Management Inc purchased a new position in Carpenter Technology in the 3rd quarter worth approximately $230,000. 92.03% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Trading Down 1.3 %
Shares of NYSE CRS traded down $2.43 during midday trading on Friday, reaching $183.75. 1,441,838 shares of the stock were exchanged, compared to its average volume of 671,105. The company has a 50 day simple moving average of $194.95 and a 200 day simple moving average of $176.83. The stock has a market capitalization of $9.18 billion, a P/E ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a twelve month low of $67.52 and a twelve month high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.17.
Read Our Latest Research Report on CRS
About Carpenter Technology
(
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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