US Bancorp DE Has $901,000 Holdings in Carpenter Technology Co. (NYSE:CRS)

US Bancorp DE lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,309 shares of the basic materials company’s stock after selling 336 shares during the quarter. US Bancorp DE’s holdings in Carpenter Technology were worth $901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after purchasing an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares during the period. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. Finally, Avala Global LP grew its holdings in Carpenter Technology by 21.0% during the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 3.1 %

CRS opened at $180.32 on Monday. The stock has a fifty day moving average of $194.14 and a 200-day moving average of $174.57. The company has a market capitalization of $9.01 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a fifty-two week low of $63.58 and a fifty-two week high of $213.66. 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 (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, 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%. On average, equities analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

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

Carpenter Technology 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.