Carpenter Technology Co. (NYSE:CRS) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,362 shares of the basic materials company’s stock after acquiring an additional 18,820 shares during the period. Rhumbline Advisers owned about 0.33% of Carpenter Technology worth $28,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRS. FMR LLC lifted its position 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 acquiring an additional 1,108,963 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Carpenter Technology by 428.4% during 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 acquiring an additional 479,985 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares during the period. Forest Avenue Capital Management LP acquired a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $25,262,000. Finally, WCM Investment Management LLC acquired a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $18,868,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 2.0 %

Shares of CRS opened at $209.92 on Thursday. The stock has a fifty day moving average of $187.83 and a two-hundred day moving average of $169.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a market capitalization of $10.49 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. Carpenter Technology Co. has a fifty-two week low of $62.99 and a fifty-two week high of $213.65.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. As a group, analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $156.33.

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.