Swiss National Bank Acquires 1,400 Shares of Carpenter Technology Co. (NYSE:CRS)

Swiss National Bank lifted its stake in Carpenter Technology Co. (NYSE:CRS) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,400 shares of the basic materials company’s stock after purchasing an additional 1,400 shares during the period. Swiss National Bank owned about 0.19% of Carpenter Technology worth $15,851,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Securian Asset Management Inc. purchased a new position in shares of Carpenter Technology during the fourth quarter worth approximately $639,000. EverSource Wealth Advisors LLC increased its holdings in Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 71 shares during the period. HighTower Advisors LLC raised its position in Carpenter Technology by 57.6% during the 4th quarter. HighTower Advisors LLC now owns 22,360 shares of the basic materials company’s stock valued at $3,795,000 after purchasing an additional 8,168 shares in the last quarter. Dearborn Partners LLC lifted its holdings in shares of Carpenter Technology by 9.3% in the 4th quarter. Dearborn Partners LLC now owns 2,787 shares of the basic materials company’s stock worth $473,000 after buying an additional 237 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Carpenter Technology by 15.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,967 shares of the basic materials company’s stock worth $2,201,000 after buying an additional 1,717 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently 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 shares of Carpenter Technology in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Up 5.2 %

NYSE:CRS opened at $190.93 on Thursday. The company’s 50-day simple moving average is $194.95 and its 200-day simple moving average is $176.49. 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 fifty-two week low of $67.24 and a fifty-two week high of $213.66. The stock has a market capitalization of $9.54 billion, a P/E ratio of 36.02, a P/E/G ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid 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 dividend yield of 0.42%. Carpenter Technology’s payout ratio is 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.