Next Century Growth Investors LLC Makes New $10.43 Million Investment in Carpenter Technology Co. (NYSE:CRS)

Next Century Growth Investors LLC acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 61,458 shares of the basic materials company’s stock, valued at approximately $10,430,000. Next Century Growth Investors LLC owned about 0.12% of Carpenter Technology as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Pictet Asset Management Holding SA lifted its position in shares of Carpenter Technology by 14.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,865 shares of the basic materials company’s stock worth $1,165,000 after acquiring an additional 877 shares during the period. Tidal Investments LLC boosted its stake in Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after buying an additional 10,094 shares in the last quarter. Manuka Financial LLC bought a new stake in Carpenter Technology in the 4th quarter valued at $368,000. Park Avenue Securities LLC acquired a new position in shares of Carpenter Technology in the 4th quarter valued at $419,000. Finally, XML Financial LLC lifted its holdings in shares of Carpenter Technology by 215.3% during the 4th quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock worth $1,605,000 after acquiring an additional 6,460 shares during the period. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRS shares. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. Finally, Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Trading Up 1.8 %

CRS stock opened at $170.72 on Friday. 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 $8.53 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 0.93 and a beta of 1.28. The business has a fifty day moving average price of $185.49 and a 200 day moving average price of $180.34. Carpenter Technology Co. has a fifty-two week low of $74.21 and a fifty-two week high of $213.66.

Carpenter Technology (NYSE:CRS) last issued 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%. Analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 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.