Pelham Capital Ltd. Takes Position in Carpenter Technology Co. (NYSE:CRS)

Pelham Capital Ltd. bought a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 42,960 shares of the basic materials company's stock, valued at approximately $7,291,000. Carpenter Technology accounts for about 4.3% of Pelham Capital Ltd.'s portfolio, making the stock its 8th largest holding. Pelham Capital Ltd. owned 0.09% of Carpenter Technology as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC raised its position in Carpenter Technology by 13.6% in the fourth quarter. WCM Investment Management LLC now owns 134,756 shares of the basic materials company's stock worth $22,547,000 after acquiring an additional 16,097 shares in the last quarter. Empowered Funds LLC raised its position in Carpenter Technology by 2.4% during the fourth quarter. Empowered Funds LLC now owns 34,498 shares of the basic materials company's stock valued at $5,855,000 after buying an additional 821 shares during the period. Advisors Preferred LLC purchased a new position in Carpenter Technology during the fourth quarter valued at approximately $1,077,000. Stratos Wealth Partners LTD. grew its holdings in shares of Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock valued at $410,000 after acquiring an additional 63 shares in the last quarter. Finally, Retirement Systems of Alabama acquired a new stake in Carpenter Technology during the fourth quarter valued at $10,286,000. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded up $1.55 during midday trading on Wednesday, hitting $186.69. 770,196 shares of the company's stock were exchanged, compared to its average volume of 708,821. The company's 50 day moving average price is $187.00 and its 200 day moving average price is $167.56. 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 firm has a market capitalization of $9.33 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. Carpenter Technology Co. has a 12 month low of $60.65 and a 12 month high of $213.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued 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%. As a group, analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's payout ratio is 15.09%.

Wall Street Analyst Weigh In

CRS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Benchmark reaffirmed a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.50.

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.