Pelham Capital Ltd. Takes Position in Carpenter Technology Co. (NYSE:CRS)

Pelham Capital Ltd. acquired a new position in Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,960 shares of the basic materials company’s stock, valued at approximately $7,291,000. Carpenter Technology accounts for 4.3% of Pelham Capital Ltd.’s portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRS. FMR LLC boosted its position in shares of Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after buying an additional 1,108,963 shares during the period. Geode Capital Management LLC boosted its holdings in Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock valued at $175,607,000 after acquiring an additional 17,497 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after purchasing an additional 103,559 shares during the period. Avala Global LP grew its holdings in shares of Carpenter Technology by 21.0% in the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after purchasing an additional 73,400 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Carpenter Technology by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company’s stock worth $57,891,000 after buying an additional 32,442 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRS shares. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. One equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

Carpenter Technology Trading Down 1.1 %

NYSE:CRS opened at $187.93 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 1 year low of $60.65 and a 1 year high of $213.65. The stock has a market cap of $9.39 billion, a P/E ratio of 35.46, a P/E/G ratio of 0.88 and a beta of 1.54. The stock has a 50-day simple moving average of $187.40 and a 200-day simple moving average of $166.40.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data 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%. As a group, analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Carpenter Technology 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.