LPL Financial LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,669 shares of the basic materials company's stock after purchasing an additional 7,219 shares during the period. LPL Financial LLC owned approximately 0.08% of Carpenter Technology worth $6,902,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology during the fourth quarter valued at about $25,000. UMB Bank n.a. increased its position in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after purchasing an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at about $80,000. Morse Asset Management Inc bought a new position in shares of Carpenter Technology during the third quarter worth about $84,000. Finally, Fifth Third Bancorp grew its stake in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on CRS shares. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday. BTIG Research set a $230.00 price target on Carpenter Technology in a 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 stock an "overweight" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.17.
Check Out Our Latest Stock Report on CRS
Carpenter Technology Stock Performance
Shares of NYSE:CRS traded up $2.96 during trading on Friday, hitting $170.72. 541,256 shares of the company traded hands, compared to its average volume of 735,028. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a one year low of $74.21 and a one year high of $213.66. 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 business's fifty day moving average is $185.49 and its 200-day moving average is $180.34.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS 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, equities analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.
Carpenter Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.47%. Carpenter Technology's dividend payout ratio is presently 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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