Wellington Management Group LLP Buys 97,978 Shares of Carpenter Technology Co. (NYSE:CRS)

Wellington Management Group LLP raised its stake in Carpenter Technology Co. (NYSE:CRS) by 64.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,095 shares of the basic materials company’s stock after purchasing an additional 97,978 shares during the quarter. Wellington Management Group LLP owned approximately 0.50% of Carpenter Technology worth $42,274,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock valued at $175,607,000 after buying an additional 17,497 shares in the last quarter. Norges Bank acquired a new stake in Carpenter Technology in the fourth quarter valued at $100,505,000. Allspring Global Investments Holdings LLC grew its position in shares of Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after acquiring an additional 479,985 shares during the period. American Century Companies Inc. increased its stake in shares of Carpenter Technology by 7.6% during the 4th quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company’s stock worth $87,765,000 after purchasing an additional 36,606 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Carpenter Technology by 7.1% in the 4th quarter. Fisher Asset Management LLC now owns 390,229 shares of the basic materials company’s stock valued at $66,226,000 after purchasing an additional 25,917 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Down 9.4 %

Shares of NYSE:CRS opened at $150.90 on Friday. Carpenter Technology Co. has a 12-month low of $74.21 and a 12-month high of $213.66. The business has a 50 day moving average of $190.40 and a 200-day moving average of $180.19. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The stock has a market cap of $7.54 billion, a PE ratio of 28.47, a P/E/G ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, equities research analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is 15.09%.

Analysts Set New Price Targets

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