Geode Capital Management LLC raised its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,932 shares of the basic materials company’s stock after acquiring an additional 47,895 shares during the quarter. Geode Capital Management LLC’s holdings in Carpenter Technology were worth $17,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. BlackRock Inc. lifted its holdings in shares of Carpenter Technology by 2.6% during the 4th quarter. BlackRock Inc. now owns 5,445,945 shares of the basic materials company’s stock valued at $193,930,000 after purchasing an additional 135,525 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Carpenter Technology by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,964,000 shares of the basic materials company’s stock valued at $141,159,000 after purchasing an additional 88,200 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Carpenter Technology by 0.4% during the 4th quarter. Northern Trust Corp now owns 1,110,222 shares of the basic materials company’s stock valued at $39,535,000 after purchasing an additional 3,897 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Carpenter Technology by 2.4% during the 4th quarter. Royce & Associates LP now owns 691,487 shares of the basic materials company’s stock valued at $24,624,000 after purchasing an additional 16,350 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Carpenter Technology during the 4th quarter valued at $19,815,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on CRS. Zacks Investment Research lowered Carpenter Technology from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. ValuEngine lowered Carpenter Technology from a “hold” rating to a “sell” rating in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $53.50.

Shares of CRS stock opened at $44.65 on Thursday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 13.99 and a beta of 2.42. The company has a quick ratio of 0.87, a current ratio of 2.53 and a debt-to-equity ratio of 0.35. Carpenter Technology Co. has a 1 year low of $32.77 and a 1 year high of $60.78.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.04. The company had revenue of $609.90 million during the quarter, compared to analyst estimates of $585.08 million. Carpenter Technology had a return on equity of 9.93% and a net margin of 6.83%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Analysts forecast that Carpenter Technology Co. will post 3.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, April 30th were paid a $0.20 dividend. The ex-dividend date was Monday, April 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. Carpenter Technology’s dividend payout ratio (DPR) is 32.00%.

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Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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