Schwab Charles Investment Management Inc. increased its position in Carpenter Technology Co. (NYSE:CRS) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,750 shares of the basic materials company’s stock after buying an additional 12,427 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Carpenter Technology were worth $20,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in Carpenter Technology by 4.7% in the 2nd quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock worth $1,909,000 after buying an additional 2,299 shares during the last quarter. California Public Employees Retirement System lifted its position in Carpenter Technology by 3.5% in the 3rd quarter. California Public Employees Retirement System now owns 123,300 shares of the basic materials company’s stock worth $5,922,000 after buying an additional 4,200 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Carpenter Technology by 38.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock worth $59,674,000 after buying an additional 347,965 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Carpenter Technology in the 3rd quarter worth approximately $313,000. Finally, Eagle Asset Management Inc. lifted its position in Carpenter Technology by 1.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 182,545 shares of the basic materials company’s stock worth $9,127,000 after buying an additional 2,449 shares during the last quarter. Institutional investors own 95.92% of the company’s stock.
Shares of Carpenter Technology Co. (NYSE:CRS) opened at $52.34 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.00. Carpenter Technology Co. has a 12-month low of $34.24 and a 12-month high of $54.61. The firm has a market capitalization of $2,455.60, a P/E ratio of 25.41 and a beta of 2.05.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. The firm had revenue of $487.80 million during the quarter, compared to the consensus estimate of $482.20 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. equities research analysts forecast that Carpenter Technology Co. will post 2.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 6th will be given a $0.18 dividend. The ex-dividend date is Monday, February 5th. This represents a $0.72 annualized dividend and a yield of 1.38%. Carpenter Technology’s payout ratio is currently 21.24%.
In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.51% of the company’s stock.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 target price for the company in a research report on Thursday, January 18th. Cowen boosted their target price on Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.25.
About Carpenter Technology
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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