Baader Bank Aktiengesellschaft lowered its holdings in Carpenter Technology Co. (NYSE:CRS – Free Report) by 33.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,430 shares of the basic materials company’s stock after selling 2,688 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Carpenter Technology were worth $922,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $33,000. UMB Bank n.a. increased its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Carpenter Technology during the 3rd quarter valued at about $64,000. Banque Cantonale Vaudoise bought a new position in shares of Carpenter Technology during the 3rd quarter valued at about $65,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology during the 3rd quarter valued at about $80,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Analyst Upgrades and Downgrades
CRS has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday. Benchmark restated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average price target of $155.50.
Carpenter Technology Price Performance
Shares of CRS stock opened at $209.60 on Thursday. The firm has a market cap of $10.45 billion, a P/E ratio of 46.68, a P/E/G ratio of 0.98 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The business’s 50 day moving average price is $187.51 and its 200-day moving average price is $162.91. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $213.65.
Carpenter Technology Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is presently 17.82%.
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.
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