9,500 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,500 shares of the basic materials company’s stock, valued at approximately $1,612,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Citigroup Inc. raised its stake in shares of Carpenter Technology by 76.8% in the 3rd quarter. Citigroup Inc. now owns 63,137 shares of the basic materials company’s stock valued at $10,075,000 after acquiring an additional 27,418 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Carpenter Technology in the third quarter valued at approximately $540,000. The Manufacturers Life Insurance Company lifted its stake in shares of Carpenter Technology by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 27,838 shares of the basic materials company’s stock worth $4,442,000 after buying an additional 908 shares during the last quarter. FMR LLC boosted its holdings in shares of Carpenter Technology by 47.1% during the 3rd 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 period. Finally, Arete Wealth Advisors LLC grew its stake in 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 buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Carpenter Technology Stock Performance

NYSE:CRS opened at $181.32 on Friday. The firm’s 50-day moving average is $194.01 and its 200-day moving average is $178.72. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52-week low of $70.20 and a 52-week high of $213.66.

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

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

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.