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

KLP Kapitalforvaltning AS purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 9,500 shares of the basic materials company’s stock, valued at approximately $1,612,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology during the 4th quarter worth approximately $25,000. UMB Bank n.a. lifted its holdings in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at $80,000. Morse Asset Management Inc bought a new stake in shares of Carpenter Technology in the 3rd quarter worth about $84,000. Finally, Fifth Third Bancorp lifted its holdings in Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $181.32 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $194.01 and a 200 day simple moving average of $178.72. Carpenter Technology Co. has a fifty-two week low of $70.20 and a fifty-two week high of $213.66. The firm has a market cap of $9.06 billion, a P/E ratio of 34.21, a P/E/G 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, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Carpenter Technology’s payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRS shares. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology Company 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.