Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,918 shares of the basic materials company’s stock after purchasing an additional 866 shares during the period. Los Angeles Capital Management LLC’s holdings in Carpenter Technology were worth $2,701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of Carpenter Technology by 55.1% during the fourth quarter. Amalgamated Bank now owns 22,731 shares of the basic materials company’s stock valued at $3,858,000 after acquiring an additional 8,076 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Carpenter Technology in the 4th quarter valued at $500,000. Howard Capital Management Inc. acquired a new position in Carpenter Technology in the 4th quarter valued at $787,000. Navellier & Associates Inc. lifted its holdings in Carpenter Technology by 105.6% in the 4th quarter. Navellier & Associates Inc. now owns 56,305 shares of the basic materials company’s stock valued at $9,556,000 after purchasing an additional 28,916 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Carpenter Technology by 17.0% during the fourth quarter. Handelsbanken Fonder AB now owns 12,400 shares of the basic materials company’s stock worth $2,104,000 after buying an additional 1,800 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Trading Down 0.1 %

CRS opened at $198.94 on Friday. 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 market cap of $9.94 billion, a P/E ratio of 37.54, a P/E/G ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65. The business has a fifty day simple moving average of $191.17 and a 200-day simple moving average of $171.85.

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

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

Analyst Ratings Changes

A number of research firms have weighed in on CRS. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note 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 company an “overweight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

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.