Commonwealth Equity Services LLC Has $1.85 Million Position in Carpenter Technology Co. (NYSE:CRS)

Commonwealth Equity Services LLC raised its stake in Carpenter Technology Co. (NYSE:CRS) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,880 shares of the basic materials company’s stock after buying an additional 160 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Carpenter Technology were worth $1,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRS. FMR LLC lifted its holdings in shares of Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after buying an additional 1,108,963 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 valued at $103,714,000 after acquiring an additional 479,985 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at $18,731,000. Holocene Advisors LP acquired a new position in Carpenter Technology during the third quarter worth $17,337,000. Finally, Barclays PLC increased its holdings in shares of Carpenter Technology by 471.1% during the 3rd quarter. Barclays PLC now owns 101,745 shares of the basic materials company’s stock valued at $16,236,000 after acquiring an additional 83,930 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 2.4 %

Shares of CRS opened at $181.32 on Friday. The company has a 50-day simple moving average of $194.01 and a 200-day simple moving average of $178.72. 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 Co. has a 52 week low of $70.20 and a 52 week high of $213.66. The firm has a market capitalization of $9.06 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

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

Wall Street Analyst Weigh In

CRS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on 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 shares of Carpenter Technology in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.