Xponance Inc. Acquires New Holdings in Carpenter Technology Co. (NYSE:CRS)

Xponance Inc. purchased a new position in Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,964 shares of the basic materials company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRS. Fifth Third Bancorp lifted its holdings in shares of Carpenter Technology by 322.5% during the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock valued at $82,000 after buying an additional 887 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Carpenter Technology in the third quarter valued at $91,000. Strs Ohio raised its stake in Carpenter Technology by 400.0% during the third quarter. Strs Ohio now owns 2,500 shares of the basic materials company’s stock worth $168,000 after acquiring an additional 2,000 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Carpenter Technology during the fourth quarter worth $209,000. Finally, Penobscot Investment Management Company Inc. acquired a new position in Carpenter Technology during the third quarter worth $202,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $84.00 on Monday. Carpenter Technology Co. has a twelve month low of $44.40 and a twelve month high of $84.03. The firm has a market cap of $4.15 billion, a PE ratio of 29.07 and a beta of 1.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.90. The business has a fifty day moving average of $71.13 and a 200-day moving average of $68.07.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 25th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $669.56 million. On average, equities research analysts predict that Carpenter Technology Co. will post 3.97 EPS for the current fiscal year.

Carpenter Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, April 22nd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s payout ratio is 27.68%.

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.