Raymond James Financial Inc. purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 110,369 shares of the basic materials company's stock, valued at approximately $18,731,000. Raymond James Financial Inc. owned 0.22% of Carpenter Technology as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Carpenter Technology by 1.5% during the 4th quarter. Arizona State Retirement System now owns 13,772 shares of the basic materials company's stock worth $2,337,000 after acquiring an additional 202 shares during the period. M&T Bank Corp bought a new position in Carpenter Technology during the fourth quarter worth $252,000. Cookson Peirce & Co. Inc. increased its holdings in shares of Carpenter Technology by 56.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,062 shares of the basic materials company's stock valued at $1,029,000 after purchasing an additional 2,185 shares during the last quarter. State of Michigan Retirement System bought a new position in shares of Carpenter Technology in the fourth quarter valued at about $2,003,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Carpenter Technology by 43.7% during the 4th quarter. Jones Financial Companies Lllp now owns 829 shares of the basic materials company's stock worth $141,000 after buying an additional 252 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.
Carpenter Technology Price Performance
Shares of CRS stock traded down $2.43 on Friday, reaching $183.75. The company had a trading volume of 1,439,781 shares, compared to its average volume of 669,554. The business's 50-day moving average is $195.00 and its 200 day moving average is $176.55. Carpenter Technology Co. has a one year low of $67.52 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 stock has a market capitalization of $9.18 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.
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, beating 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%. Equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.
Carpenter Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's dividend payout ratio is currently 15.09%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and an average price target of $167.17.
Get Our Latest Report on CRS
Carpenter Technology Company Profile
(
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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