Meiji Yasuda Asset Management Co Ltd. Takes Position in Carpenter Technology Co. (NYSE:CRS)

Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,216 shares of the basic materials company’s stock, valued at approximately $206,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Manuka Financial LLC acquired a new position in Carpenter Technology during the 4th quarter worth approximately $368,000. Park Avenue Securities LLC acquired a new position in Carpenter Technology during the 4th quarter worth approximately $419,000. Avala Global LP boosted its holdings in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after acquiring an additional 73,400 shares during the period. Finally, XML Financial LLC grew its position in Carpenter Technology by 215.3% in the fourth quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock valued at $1,605,000 after acquiring an additional 6,460 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Carpenter Technology Stock Down 2.4 %

CRS stock opened at $181.32 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $194.01 and a 200-day simple moving average of $178.72. The company has a market capitalization of $9.06 billion, a P/E ratio of 34.21, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a twelve month low of $70.20 and a twelve month high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. On average, equities research 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

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.