Principal Financial Group Inc. Has $42.67 Million Holdings in Carpenter Technology Co. (NYSE:CRS)

Principal Financial Group Inc. reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 267,390 shares of the basic materials company's stock after selling 7,961 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of Carpenter Technology worth $42,670,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology during the second quarter worth about $33,000. National Bank of Canada FI acquired a new position in Carpenter Technology during the 2nd quarter worth approximately $49,000. EverSource Wealth Advisors LLC grew its stake in shares of Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock worth $53,000 after acquiring an additional 178 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology in the third quarter valued at approximately $64,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Carpenter Technology in the third quarter worth $65,000. Institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRS. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 target price for the company. Benchmark restated a "buy" rating and issued 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.00.

Carpenter Technology Stock Performance

CRS stock traded up $2.64 during trading hours on Monday, reaching $172.61. The stock had a trading volume of 662,520 shares, compared to its average volume of 637,268. The stock has a 50-day simple moving average of $174.38 and a 200 day simple moving average of $147.02. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $198.24. The stock has a market capitalization of $8.60 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. Carpenter Technology's revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology's payout ratio is presently 17.82%.

Carpenter Technology Profile

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.