JPMorgan Chase & Co. Buys 181,317 Shares of Carpenter Technology Co. (NYSE:CRS)

JPMorgan Chase & Co. boosted its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 120.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 331,874 shares of the basic materials company's stock after buying an additional 181,317 shares during the period. JPMorgan Chase & Co. owned approximately 0.66% of Carpenter Technology worth $56,322,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after buying an additional 17,497 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock worth $103,714,000 after acquiring an additional 479,985 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Carpenter Technology by 7.6% in the fourth quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company's stock worth $87,765,000 after acquiring an additional 36,606 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Carpenter Technology by 7.1% in the fourth quarter. Fisher Asset Management LLC now owns 390,229 shares of the basic materials company's stock worth $66,226,000 after acquiring an additional 25,917 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Carpenter Technology by 9.7% during the third quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company's stock worth $57,891,000 after buying an additional 32,442 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

CRS has been the subject of several recent research reports. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.

Carpenter Technology Price Performance

CRS stock traded down $0.18 during midday trading on Thursday, reaching $174.85. 124,656 shares of the stock were exchanged, compared to its average volume of 731,603. The stock has a market capitalization of $8.73 billion, a PE ratio of 32.99, a P/E/G ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a 52 week low of $74.21 and a 52 week high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The company has a fifty day moving average price of $186.39 and a 200 day moving average price of $180.22.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 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%. As a group, analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.46%. Carpenter Technology's payout ratio is 15.09%.

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.