Swiss National Bank boosted its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,400 shares of the basic materials company's stock after acquiring an additional 1,400 shares during the quarter. Swiss National Bank owned 0.19% of Carpenter Technology worth $15,851,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CRS. FMR LLC lifted its position in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after acquiring an additional 479,985 shares in the last quarter. Forest Avenue Capital Management LP bought a new stake in Carpenter Technology in the 3rd quarter valued at $25,262,000. Raymond James Financial Inc. bought a new stake in Carpenter Technology in the 4th quarter valued at $18,731,000. Finally, Holocene Advisors LP bought a new stake in Carpenter Technology in the 3rd quarter valued at $17,337,000. 92.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on CRS. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Carpenter Technology currently has an average rating of "Moderate Buy" and a consensus target price of $167.17.
View Our Latest Research Report on Carpenter Technology
Carpenter Technology Stock Down 1.3 %
CRS stock traded down $2.43 during midday trading on Friday, hitting $183.75. The company's stock had a trading volume of 1,441,838 shares, compared to its average volume of 672,979. The stock has a market capitalization of $9.18 billion, a P/E ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. The company's fifty day moving average price is $194.95 and its 200 day moving average price is $177.12. Carpenter Technology Co. has a twelve month low of $67.52 and a twelve month high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current 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 dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology's dividend payout ratio is presently 15.09%.
About Carpenter Technology
(
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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