1,427 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by RiverPark Advisors LLC

RiverPark Advisors LLC bought 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 and Exchange Commission. The fund bought 1,427 shares of the basic materials company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRS. FMR LLC grew its stake in Carpenter Technology by 28.3% during the fourth quarter. FMR LLC now owns 4,444,608 shares of the basic materials company’s stock valued at $754,295,000 after acquiring an additional 979,313 shares in the last quarter. Invesco Ltd. boosted its holdings in Carpenter Technology by 30.3% in the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company’s stock valued at $260,884,000 after purchasing an additional 357,417 shares during the period. Geode Capital Management LLC grew its position in shares of Carpenter Technology by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company’s stock valued at $193,279,000 after purchasing an additional 38,411 shares in the last quarter. Norges Bank purchased a new position in shares of Carpenter Technology during the 4th quarter valued at $100,505,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after purchasing an additional 479,985 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

CRS opened at $191.75 on Thursday. 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 stock has a market capitalization of $9.58 billion, a P/E ratio of 36.18, a PEG ratio of 0.93 and a beta of 1.28. The stock has a 50-day moving average price of $183.33 and a 200-day moving average price of $181.11. Carpenter Technology Co. has a 12-month low of $78.20 and a 12-month high of $213.66.

Carpenter Technology (NYSE:CRS) last issued its 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 return on equity of 19.88% and a net margin of 9.34%. Equities analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRS shares. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.17.

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.