Xponance Inc. Grows Position in Carpenter Technology Co. (NYSE:CRS)

Xponance Inc. grew its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 120.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,846 shares of the basic materials company’s stock after purchasing an additional 3,742 shares during the period. Xponance Inc.’s holdings in Carpenter Technology were worth $1,162,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC grew its stake in Carpenter Technology by 47.1% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 17,497 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after buying an additional 103,559 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after acquiring an additional 479,985 shares in the last quarter. Finally, Avala Global LP increased its stake in 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 acquiring an additional 73,400 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CRS. BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $183.75 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a one year low of $67.52 and a one year high of $213.66. The business’s 50 day simple moving average is $194.95 and its two-hundred day simple moving average is $177.42. The stock has a market capitalization of $9.18 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS 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%. Analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology’s payout ratio is presently 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.