National Bank of Canada FI Purchases 1,900 Shares of Carpenter Technology Co. (NYSE:CRS)

National Bank of Canada FI raised its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,373 shares of the basic materials company's stock after purchasing an additional 1,900 shares during the period. National Bank of Canada FI owned 0.08% of Carpenter Technology worth $6,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new stake in shares of Carpenter Technology during the 4th quarter worth $25,000. CIBC Private Wealth Group LLC boosted its holdings in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after acquiring an additional 127 shares during the period. UMB Bank n.a. boosted its holdings in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the third quarter valued at about $80,000. Finally, Morse Asset Management Inc bought a new position in shares of Carpenter Technology in the third quarter worth about $84,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Stock Performance

Shares of NYSE:CRS traded up $2.96 during trading on Friday, hitting $170.72. 541,256 shares of the stock were exchanged, compared to its average volume of 735,028. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth 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 Co. has a 1-year low of $74.21 and a 1-year high of $213.66. The company's fifty day simple moving average is $185.49 and its 200-day simple moving average is $180.34.

Remove Ads

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

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of "Moderate Buy" and an average price target of $167.17.

About Carpenter Technology

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.