Raymond James Financial Inc. acquired a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 110,369 shares of the basic materials company's stock, valued at approximately $18,731,000. Raymond James Financial Inc. owned approximately 0.22% of Carpenter Technology at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in Carpenter Technology by 30.3% in the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock valued at $260,884,000 after buying an additional 357,417 shares during the period. FMR LLC grew its stake in Carpenter Technology by 28.3% in the fourth quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after purchasing an additional 979,313 shares in the last quarter. Federated Hermes Inc. acquired a new position in Carpenter Technology in the 4th quarter worth about $796,000. Wells Fargo & Company MN raised its stake in shares of Carpenter Technology by 37.4% during the 4th quarter. Wells Fargo & Company MN now owns 46,454 shares of the basic materials company's stock worth $7,884,000 after purchasing an additional 12,643 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Carpenter Technology in the 4th quarter valued at approximately $615,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CRS. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $167.17.
View Our Latest Stock Analysis on CRS
Carpenter Technology Stock Performance
Shares of CRS traded up $10.99 during mid-day trading on Thursday, hitting $201.72. The company's stock had a trading volume of 1,385,546 shares, compared to its average volume of 866,930. The stock's 50-day moving average is $183.33 and its two-hundred day moving average is $181.11. The firm has a market capitalization of $10.08 billion, a PE ratio of 38.06, 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 one year low of $79.14 and a one year high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.14. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.
Carpenter Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.40%. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.
Carpenter Technology Company Profile
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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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