Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. increased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 190.8% in the 4th quarter, HoldingsChannel reports. The firm owned 79,717 shares of the basic materials company’s stock after buying an additional 52,305 shares during the quarter. Corebridge Financial Inc.’s holdings in Carpenter Technology were worth $13,529,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CRS. Stratos Wealth Partners LTD. boosted its position in Carpenter Technology by 2.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after acquiring an additional 63 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 71 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 78 shares during the period. Fifth Third Bancorp increased its stake in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its position in Carpenter Technology by 1.2% during the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after buying an additional 115 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 0.2 %

NYSE:CRS opened at $195.61 on Wednesday. The company has a market cap of $9.77 billion, a PE ratio of 36.91, a P/E/G ratio of 0.93 and a beta of 1.55. The business’s 50 day moving average is $195.00 and its two-hundred day moving average is $178.28. 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 $67.52 and a 52 week high of $213.66.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS 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%. On average, analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

Wall Street Analyst Weigh In

CRS has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of 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 objective on Carpenter Technology in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.