Franklin Resources Inc. Has $65.42 Million Position in Carpenter Technology Co. (NYSE:CRS)

Franklin Resources Inc. raised its position in Carpenter Technology Co. (NYSE:CRS) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,495 shares of the basic materials company’s stock after purchasing an additional 17,418 shares during the quarter. Franklin Resources Inc. owned 0.77% of Carpenter Technology worth $65,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its position in Carpenter Technology by 68.1% during the 4th quarter. Alliancebernstein L.P. now owns 100,705 shares of the basic materials company’s stock worth $17,091,000 after buying an additional 40,784 shares during the period. Wellington Management Group LLP raised its stake in shares of Carpenter Technology by 64.8% during the fourth quarter. Wellington Management Group LLP now owns 249,095 shares of the basic materials company’s stock valued at $42,274,000 after acquiring an additional 97,978 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Carpenter Technology by 21.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,602 shares of the basic materials company’s stock worth $1,120,000 after purchasing an additional 1,172 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Carpenter Technology by 109.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 127 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Carpenter Technology by 5.7% in the fourth quarter. California Public Employees Retirement System now owns 83,899 shares of the basic materials company’s stock valued at $14,238,000 after purchasing an additional 4,495 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRS has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Stock Performance

Shares of CRS opened at $166.49 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $191.60 and its two-hundred day simple moving average is $179.87. Carpenter Technology Co. has a 12 month low of $73.95 and a 12 month high of $213.66. The stock has a market capitalization of $8.32 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

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

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

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.