Cornerstone Investment Partners LLC Buys Shares of 2,929 Carpenter Technology Co. (NYSE:CRS)

Cornerstone Investment Partners LLC bought a new stake in Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,929 shares of the basic materials company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Carpenter Technology in the first quarter worth about $26,000. Tower Research Capital LLC TRC raised its stake in shares of Carpenter Technology by 124.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the basic materials company’s stock worth $44,000 after buying an additional 543 shares during the period. Fifth Third Bancorp raised its stake in shares of Carpenter Technology by 322.5% in the fourth quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after buying an additional 887 shares during the period. NBC Securities Inc. bought a new position in shares of Carpenter Technology in the third quarter worth about $91,000. Finally, Point72 Middle East FZE bought a new position in shares of Carpenter Technology in the fourth quarter worth about $95,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 1.7 %

NYSE CRS opened at $78.02 on Friday. The stock’s 50-day moving average price is $69.44 and its 200-day moving average price is $67.58. The company has a quick ratio of 1.26, a current ratio of 2.90 and a debt-to-equity ratio of 0.47. Carpenter Technology Co. has a 52 week low of $44.40 and a 52 week high of $82.16. The company has a market capitalization of $3.85 billion, a P/E ratio of 27.00 and a beta of 1.56.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 25th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $669.56 million. On average, equities research analysts predict that Carpenter Technology Co. will post 3.96 earnings per share for the current year.

Carpenter Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is currently 27.68%.

Carpenter Technology Company 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.