Fmr LLC Acquires 979,313 Shares of Carpenter Technology Co. (NYSE:CRS)

Fmr LLC increased its holdings in Carpenter Technology Co. (NYSE:CRS) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,444,608 shares of the basic materials company’s stock after buying an additional 979,313 shares during the quarter. Fmr LLC owned 8.90% of Carpenter Technology worth $754,295,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Carpenter Technology in the fourth quarter worth about $100,505,000. Allspring Global Investments Holdings LLC increased its holdings in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after acquiring an additional 479,985 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Carpenter Technology by 120.4% during the 4th quarter. JPMorgan Chase & Co. now owns 331,874 shares of the basic materials company’s stock worth $56,322,000 after acquiring an additional 181,317 shares during the period. Raymond James Financial Inc. purchased a new position in Carpenter Technology during the fourth quarter valued at approximately $18,731,000. Finally, Wellington Management Group LLP boosted its position in shares of Carpenter Technology by 64.8% in the fourth quarter. Wellington Management Group LLP now owns 249,095 shares of the basic materials company’s stock worth $42,274,000 after purchasing an additional 97,978 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

NYSE CRS opened at $152.86 on Tuesday. The stock has a market capitalization of $7.64 billion, a PE ratio of 28.84, a P/E/G ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a 1-year low of $74.21 and a 1-year high of $213.66. The business has a 50 day simple moving average of $189.47 and a two-hundred day simple moving average of $180.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data 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 net margin of 9.34% and a return on equity of 19.88%. On average, research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

Analyst Upgrades and Downgrades

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