Blue Grotto Capital LLC Acquires 17,317 Shares of Carpenter Technology Co. (NYSE:CRS)

Blue Grotto Capital LLC raised its holdings in Carpenter Technology Co. (NYSE:CRS) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,800 shares of the basic materials company’s stock after acquiring an additional 17,317 shares during the quarter. Carpenter Technology accounts for about 8.6% of Blue Grotto Capital LLC’s holdings, making the stock its biggest position. Blue Grotto Capital LLC owned about 0.56% of Carpenter Technology worth $47,145,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CRS. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology in the fourth quarter valued at about $25,000. UMB Bank n.a. lifted its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $80,000. Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $84,000. Finally, Fifth Third Bancorp grew its holdings in shares of Carpenter Technology by 23.5% in the 4th 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 period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $195.61 on Wednesday. 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 Co. has a fifty-two week low of $67.52 and a fifty-two week high of $213.66. The stock has a fifty day moving average of $195.00 and a two-hundred day moving average of $178.28. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRS. BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology 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.