Kennedy Capital Management LLC decreased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 34.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,098 shares of the basic materials company's stock after selling 24,913 shares during the period. Kennedy Capital Management LLC owned about 0.10% of Carpenter Technology worth $8,163,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Carpenter Technology by 28.3% in the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after purchasing an additional 979,313 shares in the last quarter. Invesco Ltd. boosted its stake in Carpenter Technology by 30.3% in the fourth quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock valued at $260,884,000 after buying an additional 357,417 shares in the last quarter. Geode Capital Management LLC grew its position in Carpenter Technology by 3.5% in 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 acquiring an additional 38,411 shares during the last quarter. Norges Bank acquired a new position in Carpenter Technology during the fourth quarter worth about $100,505,000. Finally, Allspring Global Investments Holdings LLC lifted 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 during the last quarter. 92.03% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Finally, BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and a consensus price target of $167.17.
Get Our Latest Research Report on CRS
Carpenter Technology Trading Up 1.0 %
Shares of NYSE:CRS traded up $1.69 during midday trading on Monday, reaching $172.57. The company's stock had a trading volume of 819,063 shares, compared to its average volume of 736,832. The firm has a 50 day moving average price of $185.09 and a two-hundred day moving average price of $180.60. Carpenter Technology Co. has a fifty-two week low of $74.21 and a fifty-two week high of $213.66. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 0.93 and a beta of 1.28. 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 (NYSE:CRS - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.34% and a return on equity of 19.88%. As a group, analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.
Carpenter Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Carpenter Technology's dividend payout ratio is currently 15.09%.
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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