Los Angeles Capital Management LLC Boosts Holdings in Carpenter Technology Co. (NYSE:CRS)

Los Angeles Capital Management LLC boosted its stake in Carpenter Technology Co. (NYSE:CRS) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,918 shares of the basic materials company’s stock after acquiring 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 SEC filing.

Other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology during the fourth quarter worth about $25,000. UMB Bank n.a. grew its stake in Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology during the third quarter worth approximately $65,000. Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology in the third quarter valued at approximately $80,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology in the third quarter valued at approximately $84,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRS. JPMorgan Chase & Co. lifted their target price 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. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $198.94 on Friday. The business has a 50 day simple moving average of $191.17 and a 200-day simple moving average of $171.85. Carpenter Technology Co. has a 12 month low of $62.99 and a 12 month high of $213.65. 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 stock has a market capitalization of $9.94 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Equities analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is presently 15.09%.

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.