Crestline Management LP acquired a new stake in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,849 shares of the basic materials company’s stock, valued at approximately $2,665,000. Crestline Management LP owned 0.16% of Carpenter Technology at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CRS. Boston Partners grew its holdings in shares of Carpenter Technology by 1,135.0% in the fourth quarter. Boston Partners now owns 410,280 shares of the basic materials company’s stock valued at $14,610,000 after purchasing an additional 377,060 shares during the period. Franklin Resources Inc. grew its holdings in shares of Carpenter Technology by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,513,719 shares of the basic materials company’s stock valued at $89,234,000 after purchasing an additional 213,100 shares during the period. BlackRock Inc. grew its holdings in shares of Carpenter Technology by 2.6% in the fourth quarter. BlackRock Inc. now owns 5,445,945 shares of the basic materials company’s stock valued at $193,930,000 after purchasing an additional 135,525 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Carpenter Technology by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,964,000 shares of the basic materials company’s stock valued at $141,159,000 after purchasing an additional 88,200 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at about $2,609,000. 93.49% of the stock is owned by hedge funds and other institutional investors.
Shares of CRS stock opened at $45.44 on Friday. The company has a quick ratio of 0.84, a current ratio of 2.53 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 18.18 and a beta of 2.41. Carpenter Technology Co. has a 1-year low of $32.77 and a 1-year high of $61.49.
Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 31st. The basic materials company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The company had revenue of $556.50 million during the quarter, compared to analyst estimates of $570.66 million. Carpenter Technology had a net margin of 6.04% and a return on equity of 9.49%. During the same quarter last year, the firm posted $0.55 earnings per share. Equities research analysts anticipate that Carpenter Technology Co. will post 3.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Monday, February 4th. Carpenter Technology’s dividend payout ratio (DPR) is presently 32.00%.
A number of brokerages recently issued reports on CRS. Zacks Investment Research lowered shares of Carpenter Technology from a “hold” rating to a “sell” rating in a report on Wednesday, January 9th. Cowen reissued a “buy” rating and issued a $53.00 price objective on shares of Carpenter Technology in a report on Thursday, January 31st. Longbow Research raised shares of Carpenter Technology from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, December 11th. Finally, ValuEngine raised shares of Carpenter Technology from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Carpenter Technology has an average rating of “Hold” and an average price target of $56.00.
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About Carpenter Technology
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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