Carpenter Technology Co. (NYSE:CRS) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in Carpenter Technology Co. (NYSE:CRS) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,498 shares of the basic materials company’s stock after purchasing an additional 821 shares during the period. Empowered Funds LLC’s holdings in Carpenter Technology were worth $5,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRS. FMR LLC increased 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 worth $552,992,000 after buying an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after purchasing an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Avala Global LP lifted its position in shares of Carpenter Technology by 21.0% during the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Carpenter Technology by 9.7% in the third quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company’s stock worth $57,891,000 after purchasing an additional 32,442 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Trading Down 2.9 %

Shares of NYSE CRS opened at $184.85 on Wednesday. Carpenter Technology Co. has a 12-month low of $60.65 and a 12-month high of $213.65. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $187.16 and its 200 day simple moving average is $167.42.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. One investment 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 presently 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.