Handelsbanken Fonder AB Increases Position in Carpenter Technology Co. (NYSE:CRS)

Handelsbanken Fonder AB increased its position in Carpenter Technology Co. (NYSE:CRS) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,400 shares of the basic materials company’s stock after acquiring an additional 1,800 shares during the period. Handelsbanken Fonder AB’s holdings in Carpenter Technology were worth $2,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Tidal Investments LLC raised its position in Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after buying an additional 10,094 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP acquired a new position in Carpenter Technology during the third quarter valued at $25,262,000. Natixis Advisors LLC boosted its holdings in Carpenter Technology by 6.0% in the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Manuka Financial LLC purchased a new stake in Carpenter Technology in the fourth quarter valued at $368,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Trading Down 0.3 %

Shares of Carpenter Technology stock opened at $199.64 on Wednesday. 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 fifty-two week low of $62.99 and a fifty-two week high of $213.65. The firm has a 50-day simple moving average of $189.91 and a two-hundred day simple moving average of $171.47. The company has a market cap of $9.97 billion, a P/E ratio of 37.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping 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%. As a group, equities analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

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

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.