Securian Asset Management Inc. Makes New $639,000 Investment in Carpenter Technology Co. (NYSE:CRS)

Securian Asset Management Inc. purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,768 shares of the basic materials company's stock, valued at approximately $639,000.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Carpenter Technology by 54.1% during the 3rd quarter. Victory Capital Management Inc. now owns 23,068 shares of the basic materials company's stock worth $3,681,000 after buying an additional 8,095 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Carpenter Technology during the third quarter worth $571,000. KBC Group NV lifted its stake in shares of Carpenter Technology by 13.5% during the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock valued at $216,000 after acquiring an additional 161 shares during the period. OneDigital Investment Advisors LLC bought a new position in Carpenter Technology in the third quarter valued at about $293,000. Finally, CIBC Asset Management Inc acquired a new stake in Carpenter Technology in the third quarter worth about $230,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Down 2.3 %

Shares of CRS stock traded down $4.41 on Thursday, reaching $186.20. The company had a trading volume of 558,062 shares, compared to its average volume of 846,341. The stock has a market cap of $9.30 billion, a PE ratio of 35.13, a PEG ratio of 0.93 and a beta of 1.55. The company has a 50-day moving average of $194.95 and a 200-day moving average of $176.49. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 12 month low of $67.52 and a 12 month high of $213.66.

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Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a report 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $167.17.

Carpenter Technology Company 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.