Carpenter Technology Co. (NYSE:CRS) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Carpenter Technology Co. (NYSE:CRS) by 14.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,865 shares of the basic materials company’s stock after acquiring an additional 877 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Carpenter Technology were worth $1,165,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in 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 purchased a new position in shares of Carpenter Technology during the 4th quarter worth approximately $368,000. Park Avenue Securities LLC acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at approximately $419,000. XML Financial LLC boosted its stake in shares of 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 buying an additional 6,460 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Carpenter Technology by 428.4% during 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 during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 9.4 %

NYSE:CRS opened at $150.90 on Friday. Carpenter Technology Co. has a 52-week low of $74.21 and a 52-week high of $213.66. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $190.40 and a 200-day simple moving average of $180.19. The company has a market capitalization of $7.54 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analyst Weigh In

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

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.