Fisher Asset Management LLC Increases Position in Carpenter Technology Co. (NYSE:CRS)

Fisher Asset Management LLC raised its position in Carpenter Technology Co. (NYSE:CRS) by 9.7% during the first quarter, HoldingsChannel reports. The firm owned 532,926 shares of the basic materials company’s stock after buying an additional 46,923 shares during the quarter. Fisher Asset Management LLC’s holdings in Carpenter Technology were worth $21,930,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRS. BlackRock Inc. grew its position in shares of Carpenter Technology by 5.2% in the 4th quarter. BlackRock Inc. now owns 7,480,745 shares of the basic materials company’s stock valued at $217,841,000 after buying an additional 370,045 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Carpenter Technology by 20.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,889,592 shares of the basic materials company’s stock valued at $84,145,000 after buying an additional 481,824 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Carpenter Technology by 67.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,509,623 shares of the basic materials company’s stock valued at $43,960,000 after buying an additional 608,468 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Carpenter Technology by 1,181.9% in the 4th quarter. Victory Capital Management Inc. now owns 699,497 shares of the basic materials company’s stock valued at $20,369,000 after buying an additional 644,931 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Carpenter Technology in the 4th quarter valued at $18,276,000. 85.58% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. Cowen reaffirmed a “hold” rating and issued a $30.00 target price on shares of Carpenter Technology in a research report on Friday, February 5th. Zacks Investment Research raised shares of Carpenter Technology from a “sell” rating to a “hold” rating and set a $44.00 target price on the stock in a research report on Monday, March 8th.

Shares of NYSE:CRS opened at $39.85 on Tuesday. The stock has a market cap of $1.91 billion, a P/E ratio of -21.78 and a beta of 2.28. The firm has a fifty day moving average price of $41.13 and a 200 day moving average price of $32.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.49 and a quick ratio of 2.09. Carpenter Technology Co. has a 1-year low of $15.90 and a 1-year high of $48.06.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, April 29th. The basic materials company reported ($0.54) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.03. The firm had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $368.53 million. Carpenter Technology had a negative net margin of 4.45% and a positive return on equity of 2.48%. Carpenter Technology’s quarterly revenue was down 39.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. Sell-side analysts expect that Carpenter Technology Co. will post -1.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 3rd. Stockholders of record on Tuesday, May 4th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, May 3rd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is 36.20%.

About Carpenter Technology

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. 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 drilling tools, and metal powders and parts.

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

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