Next Century Growth Investors LLC Takes $10.43 Million Position in Carpenter Technology Co. (NYSE:CRS)

Next Century Growth Investors LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 61,458 shares of the basic materials company’s stock, valued at approximately $10,430,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRS. Arete Wealth Advisors LLC lifted its stake in shares of Carpenter Technology by 7.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after purchasing an additional 169 shares during the period. Morse Asset Management Inc acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $84,000. EP Wealth Advisors LLC bought a new stake in shares of Carpenter Technology in the 3rd quarter valued at about $331,000. National Bank of Canada FI raised its position in shares of Carpenter Technology by 8,300.2% in the 3rd quarter. National Bank of Canada FI now owns 38,473 shares of the basic materials company’s stock valued at $6,140,000 after acquiring an additional 38,015 shares during the period. Finally, Barclays PLC boosted its stake in Carpenter Technology by 471.1% during the 3rd quarter. Barclays PLC now owns 101,745 shares of the basic materials company’s stock worth $16,236,000 after acquiring an additional 83,930 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $170.72 on Friday. The company has a fifty day moving average price of $185.49 and a 200 day moving average price of $180.34. The firm has a market cap of $8.53 billion, a PE ratio of 32.21, a PEG ratio of 0.93 and a beta of 1.28. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 1-year low of $74.21 and a 1-year high of $213.66.

Carpenter Technology (NYSE:CRS) last posted 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 return on equity of 19.88% and a net margin of 9.34%. Research analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRS. 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. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. Finally, Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus 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.