Next Century Growth Investors LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 61,458 shares of the basic materials company's stock, valued at approximately $10,430,000. Next Century Growth Investors LLC owned approximately 0.12% of Carpenter Technology at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new position in Carpenter Technology in the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC lifted its position in shares of Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after buying an additional 127 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Carpenter Technology by 169.0% in the fourth 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 period. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology in the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology during the third quarter worth about $84,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
Carpenter Technology Trading Up 1.1 %
Shares of Carpenter Technology stock traded up $1.83 on Tuesday, hitting $174.85. 943,919 shares of the company traded hands, compared to its average volume of 738,987. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $8.73 billion, a PE ratio of 32.99, a PEG ratio of 0.93 and a beta of 1.28. The stock's 50 day moving average price is $184.79 and its 200-day moving average price is $180.56. Carpenter Technology Co. has a 52 week low of $74.21 and a 52 week high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Equities research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.
Carpenter Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in 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. BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $167.17.
Read Our Latest Report on CRS
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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