Carpenter Technology Co. (NYSE:CRS) Stake Boosted by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 517,142 shares of the basic materials company’s stock after purchasing an additional 36,606 shares during the period. American Century Companies Inc.’s holdings in Carpenter Technology were worth $87,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CRS. Summit Global Investments acquired a new position in shares of Carpenter Technology in the 4th quarter valued at about $516,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Carpenter Technology by 3.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,008 shares of the basic materials company’s stock valued at $1,868,000 after acquiring an additional 332 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Carpenter Technology by 59.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 8,476 shares of the basic materials company’s stock worth $1,439,000 after purchasing an additional 3,155 shares during the period. Xponance Inc. lifted its holdings in shares of Carpenter Technology by 120.6% in the 4th quarter. Xponance Inc. now owns 6,846 shares of the basic materials company’s stock worth $1,162,000 after purchasing an additional 3,742 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Carpenter Technology by 223.3% in the 4th quarter. Intech Investment Management LLC now owns 65,510 shares of the basic materials company’s stock worth $11,118,000 after purchasing an additional 45,249 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $195.68 on Tuesday. The firm’s 50-day simple moving average is $195.00 and its 200 day simple moving average is $177.84. The stock has a market cap of $9.77 billion, a P/E ratio of 36.92, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a fifty-two week low of $67.52 and a fifty-two week high of $213.66.

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, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Equities analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased 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 price objective on shares of Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology Company 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.