Carpenter Technology Co. (NYSE:CRS) Shares Purchased by WCM Investment Management LLC

WCM Investment Management LLC raised its holdings in Carpenter Technology Co. (NYSE:CRS) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,756 shares of the basic materials company’s stock after purchasing an additional 16,097 shares during the quarter. WCM Investment Management LLC’s holdings in Carpenter Technology were worth $22,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after buying an additional 1,108,963 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after acquiring an additional 200,364 shares in the last quarter. Forest Avenue Capital Management LP acquired a new stake in Carpenter Technology in the third quarter valued at $25,262,000. Holocene Advisors LP acquired a new position in Carpenter Technology during the third quarter worth about $17,337,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Carpenter Technology by 15.6% during the 3rd 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 and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Down 1.1 %

Shares of NYSE CRS opened at $187.93 on Friday. Carpenter Technology Co. has a 52-week low of $60.65 and a 52-week high of $213.65. The stock has a market capitalization of $9.39 billion, a PE ratio of 35.46, a P/E/G ratio of 0.88 and a beta of 1.54. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $187.40 and a 200-day moving average of $166.40.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) 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%. On average, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CRS shares. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Benchmark restated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $155.50.

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.