Carpenter Technology Co. (NYSE:CRS) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Carpenter Technology Co. (NYSE:CRS) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 517,142 shares of the basic materials company’s stock after buying an additional 36,606 shares during the period. American Century Companies Inc. owned approximately 1.04% of Carpenter Technology worth $87,765,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Carpenter Technology by 47.1% in 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 increased its holdings in Carpenter Technology by 428.4% in 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 purchasing an additional 479,985 shares in the last quarter. Forest Avenue Capital Management LP purchased a new position in Carpenter Technology in the third quarter valued at about $25,262,000. Raymond James Financial Inc. acquired a new position in shares of Carpenter Technology during the fourth quarter worth about $18,731,000. Finally, Holocene Advisors LP purchased a new stake in shares of Carpenter Technology in the third quarter worth about $17,337,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

CRS stock opened at $195.68 on Tuesday. The company has a market capitalization of $9.77 billion, a PE 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. The stock’s 50 day moving average is $195.00 and its two-hundred day moving average is $177.84. Carpenter Technology Co. has a 52-week low of $67.52 and a 52-week high of $213.66.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results 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%. Analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business 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. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is 15.09%.

Analyst Ratings Changes

Several equities analysts recently commented on CRS shares. JPMorgan Chase & Co. boosted their price target 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 target price on shares of Carpenter Technology in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.