Carpenter Technology Co. (NYSE:CRS) Holdings Boosted by Cavalier Investments LLC

Cavalier Investments LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS) by 168.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,036 shares of the basic materials company’s stock after purchasing an additional 26,378 shares during the period. Carpenter Technology accounts for 2.4% of Cavalier Investments LLC’s investment portfolio, making the stock its 8th biggest holding. Cavalier Investments LLC’s holdings in Carpenter Technology were worth $7,134,000 at the end of the most recent reporting period.

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

Carpenter Technology Stock Down 0.3 %

CRS stock opened at $199.64 on Wednesday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 1 year low of $62.99 and a 1 year high of $213.65. The company has a fifty day simple moving average of $189.91 and a 200 day simple moving average of $171.47. The firm has a market cap of $9.97 billion, a PE ratio of 37.67, a PEG ratio of 0.93 and a beta of 1.54.

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 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%. Sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is presently 15.09%.

Analyst Ratings Changes

Several research firms have recently commented on CRS. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target 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.