Swiss National Bank Increases Stock Position in Carpenter Technology Co. (NYSE:CRS)

Swiss National Bank boosted its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,800 shares of the basic materials company’s stock after buying an additional 1,500 shares during the quarter. Swiss National Bank’s holdings in Carpenter Technology were worth $4,518,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Carpenter Technology by 1,181.9% during the fourth quarter. Victory Capital Management Inc. now owns 699,497 shares of the basic materials company’s stock worth $20,369,000 after buying an additional 644,931 shares during the period. Norges Bank bought a new position in shares of Carpenter Technology in the 4th quarter worth $18,276,000. Alliancebernstein L.P. boosted its position in Carpenter Technology by 18.2% during the first quarter. Alliancebernstein L.P. now owns 3,416,304 shares of the basic materials company’s stock valued at $140,581,000 after purchasing an additional 526,712 shares in the last quarter. BlackRock Inc. boosted its position in Carpenter Technology by 5.2% during the fourth quarter. BlackRock Inc. now owns 7,480,745 shares of the basic materials company’s stock valued at $217,841,000 after purchasing an additional 370,045 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Carpenter Technology by 274.4% in the fourth quarter. JPMorgan Chase & Co. now owns 370,816 shares of the basic materials company’s stock valued at $10,798,000 after purchasing an additional 271,770 shares during the last quarter. 90.50% of the stock is currently owned by institutional investors.

NYSE CRS opened at $44.24 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.28 and a current ratio of 4.27. The firm has a 50 day moving average price of $42.67. The stock has a market capitalization of $2.12 billion, a P/E ratio of -7.32 and a beta of 2.23. Carpenter Technology Co. has a 1-year low of $15.90 and a 1-year high of $49.20.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, April 29th. The basic materials company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.03. The company had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $368.53 million. Carpenter Technology had a negative net margin of 19.51% and a negative return on equity of 7.06%. The firm’s quarterly revenue was down 39.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. Research analysts forecast that Carpenter Technology Co. will post -2.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Tuesday, May 4th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.81%. The ex-dividend date was Monday, May 3rd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio is currently 36.20%.

Separately, Zacks Investment Research raised shares of Carpenter Technology from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a report on Monday, March 8th.

Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. 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 drilling tools, and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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