Xponance Inc. raised its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 120.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,846 shares of the basic materials company's stock after acquiring an additional 3,742 shares during the quarter. Xponance Inc.'s holdings in Carpenter Technology were worth $1,162,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CRS. Victory Capital Management Inc. boosted its position in shares of Carpenter Technology by 54.1% in the third quarter. Victory Capital Management Inc. now owns 23,068 shares of the basic materials company's stock valued at $3,681,000 after acquiring an additional 8,095 shares during the period. Natixis Advisors LLC lifted its stake in Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock valued at $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology in the 3rd quarter worth about $65,000. Intech Investment Management LLC boosted its stake in shares of Carpenter Technology by 302.6% during the third quarter. Intech Investment Management LLC now owns 20,261 shares of the basic materials company's stock valued at $3,233,000 after purchasing an additional 15,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock worth $122,794,000 after purchasing an additional 103,559 shares during the last quarter. Institutional investors own 92.03% of the company's stock.
Carpenter Technology Stock Performance
Shares of Carpenter Technology stock traded down $3.12 during mid-day trading on Thursday, hitting $186.00. 373,374 shares of the stock were exchanged, compared to its average volume of 672,764. The company has a market capitalization of $9.29 billion, a P/E ratio of 35.09, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a 50-day simple moving average of $194.81 and a 200 day simple moving average of $178.36. Carpenter Technology Co. has a 12 month low of $68.77 and a 12 month high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.
Carpenter Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology's payout ratio is presently 15.09%.
Wall Street Analysts Forecast Growth
CRS has been the topic of several recent research reports. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $167.17.
Check Out Our Latest Stock Analysis on CRS
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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