Wellington Management Group LLP Has $42.27 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Wellington Management Group LLP boosted its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 64.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,095 shares of the basic materials company's stock after buying an additional 97,978 shares during the quarter. Wellington Management Group LLP owned 0.50% of Carpenter Technology worth $42,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock worth $410,000 after acquiring an additional 63 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Carpenter Technology by 11.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 71 shares during the period. CIBC Asset Management Inc raised its position in Carpenter Technology by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock worth $258,000 after acquiring an additional 78 shares during the last quarter. Fifth Third Bancorp raised its position in Carpenter Technology by 23.5% during the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after acquiring an additional 109 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its position in shares of Carpenter Technology by 1.2% in the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 115 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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Carpenter Technology Stock Down 3.0 %

Shares of CRS stock traded down $5.25 during trading on Thursday, hitting $169.79. 173,421 shares of the company were exchanged, compared to its average volume of 731,765. Carpenter Technology Co. has a twelve month low of $74.21 and a twelve month high of $213.66. The business's 50-day simple moving average is $186.39 and its 200 day simple moving average is $180.22. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 32.16, a P/E/G 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 (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.

Analysts Set New Price Targets

CRS has been the subject of a number of recent analyst reports. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday. Finally, 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 note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and a consensus target price of $167.17.

About Carpenter Technology

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.