Fmr LLC Boosts Stock Position in Carpenter Technology Co. (NYSE:CRS)

Fmr LLC grew its holdings in Carpenter Technology Co. (NYSE:CRS) by 28.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,444,608 shares of the basic materials company’s stock after acquiring an additional 979,313 shares during the quarter. Fmr LLC owned approximately 0.09% of Carpenter Technology worth $754,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Carpenter Technology in the 4th quarter valued at about $25,000. CIBC Private Wealth Group LLC raised its stake in shares of Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 127 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology in the third quarter worth approximately $80,000. Finally, Morse Asset Management Inc purchased a new position in Carpenter Technology during the 3rd quarter worth $84,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Up 0.8 %

Shares of NYSE CRS opened at $152.86 on Tuesday. The business has a fifty day moving average price of $189.47 and a 200 day moving average price of $180.41. Carpenter Technology Co. has a 1-year low of $74.21 and a 1-year 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. The stock has a market capitalization of $7.64 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data 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%. Equities research analysts expect 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. Stockholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

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

Carpenter Technology Company 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.