Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in Carpenter Technology Co. (NYSE:CRS) by 7.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 390,229 shares of the basic materials company’s stock after acquiring an additional 25,917 shares during the quarter. Fisher Asset Management LLC owned approximately 0.78% of Carpenter Technology worth $66,226,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its position in shares of Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after buying an additional 63 shares during the period. CIBC Asset Management Inc boosted its position in shares of Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock worth $258,000 after buying an additional 78 shares during the period. Strengthening Families & Communities LLC boosted its position in shares of Carpenter Technology by 0.6% in the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after buying an additional 100 shares during the period. Fifth Third Bancorp boosted its position in shares of Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after buying an additional 109 shares during the period. Finally, Wesbanco Bank Inc. boosted its position in shares of Carpenter Technology by 1.2% in the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after buying an additional 115 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Carpenter Technology Price Performance

CRS opened at $207.25 on Friday. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a 1 year low of $62.99 and a 1 year high of $213.65. 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 stock has a fifty day moving average price of $191.91 and a 200 day moving average price of $172.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.39%. Carpenter Technology’s dividend 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.