Carpenter Technology Co. (NYSE:CRS) Holdings Raised by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 223.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 65,510 shares of the basic materials company’s stock after acquiring an additional 45,249 shares during the period. Intech Investment Management LLC’s holdings in Carpenter Technology were worth $11,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cibc World Markets Corp bought a new stake in shares of Carpenter Technology during the fourth quarter valued at about $756,000. Catalyst Funds Management Pty Ltd grew its holdings in Carpenter Technology by 200.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 3,600 shares of the basic materials company’s stock worth $611,000 after acquiring an additional 2,400 shares during the period. Commonwealth Equity Services LLC grew its holdings in Carpenter Technology by 1.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,880 shares of the basic materials company’s stock worth $1,846,000 after acquiring an additional 160 shares during the period. Swiss National Bank grew its holdings in Carpenter Technology by 1.5% during the fourth quarter. Swiss National Bank now owns 93,400 shares of the basic materials company’s stock worth $15,851,000 after acquiring an additional 1,400 shares during the period. Finally, Securian Asset Management Inc. acquired a new position in Carpenter Technology during the fourth quarter worth about $639,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Up 0.5 %

NYSE:CRS opened at $184.42 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a fifty-two week low of $65.26 and a fifty-two week high of $213.66. The stock’s 50-day moving average is $194.79 and its two-hundred day moving average is $176.13. The stock has a market cap of $9.21 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.

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%. As a group, equities research analysts forecast 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRS shares. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average 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.