Invesco Ltd. lifted its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,537,235 shares of the basic materials company's stock after purchasing an additional 357,417 shares during the quarter. Invesco Ltd. owned 3.08% of Carpenter Technology worth $260,884,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CRS. FMR LLC raised its position in shares of Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after buying an additional 979,313 shares in the last quarter. Geode Capital Management LLC raised its position in Carpenter Technology by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock valued at $193,279,000 after purchasing an additional 38,411 shares during the period. Norges Bank bought a new stake in shares of Carpenter Technology in the 4th quarter valued at approximately $100,505,000. Allspring Global Investments Holdings LLC increased its position in shares of Carpenter Technology by 428.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Carpenter Technology by 7.6% during the 4th quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company's stock valued at $87,765,000 after buying an additional 36,606 shares during the period. Hedge funds and other institutional investors own 92.03% of the company's stock.
Carpenter Technology Trading Up 1.0 %
Carpenter Technology stock traded up $1.69 during trading hours on Monday, hitting $172.57. The company had a trading volume of 819,063 shares, compared to its average volume of 736,832. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm has a market cap of $8.62 billion, a P/E ratio of 32.56, a P/E/G ratio of 0.93 and a beta of 1.28. The company has a 50-day moving average price of $185.49 and a two-hundred day moving average price of $180.51. Carpenter Technology Co. has a 1 year low of $74.21 and a 1 year high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate 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 will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be paid 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 0.46%. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.
Analysts Set New Price Targets
Several research analysts have commented on CRS shares. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. One research 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 company has an average rating of "Moderate Buy" and a consensus target price of $167.17.
View Our Latest Analysis on Carpenter Technology
Carpenter Technology Profile
(
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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