Handelsbanken Fonder AB Boosts Stake in Carpenter Technology Co. (NYSE:CRS)

Handelsbanken Fonder AB lifted its stake in Carpenter Technology Co. (NYSE:CRS) by 17.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,400 shares of the basic materials company’s stock after acquiring an additional 1,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Carpenter Technology were worth $2,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ieq Capital LLC lifted its position in shares of Carpenter Technology by 105.0% during the fourth quarter. Ieq Capital LLC now owns 2,761 shares of the basic materials company’s stock worth $469,000 after purchasing an additional 1,414 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the 4th quarter worth approximately $25,000. CIBC Asset Management Inc boosted its position in Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after buying an additional 78 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Carpenter Technology during the fourth quarter worth $193,000. Finally, Allworth Financial LP raised its stake in shares of Carpenter Technology by 31,309.1% in the fourth quarter. Allworth Financial LP now owns 6,910 shares of the basic materials company’s stock valued at $1,173,000 after acquiring an additional 6,888 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $199.64 on Wednesday. The firm has a market capitalization of $9.97 billion, a P/E ratio of 37.67, a P/E/G ratio of 0.93 and a beta of 1.54. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65. The firm’s 50 day moving average is $189.91 and its two-hundred day moving average is $171.47.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating 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%. Research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRS shares. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a 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. According to data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus price target of $167.17.

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.