Catalyst Funds Management Pty Ltd Raises Position in Carpenter Technology Co. (NYSE:CRS)

Catalyst Funds Management Pty Ltd raised its position in shares of Carpenter Technology Co. (NYSE:CRS) by 200.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the basic materials company’s stock after acquiring an additional 2,400 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Carpenter Technology were worth $611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its holdings in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after purchasing an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after buying an additional 17,497 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after acquiring an additional 103,559 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after acquiring an additional 479,985 shares during the last quarter. Finally, Avala Global LP lifted its stake in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $235.00 to $240.00 and gave the company 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 note on Friday, January 31st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Price Performance

NYSE:CRS opened at $183.76 on Friday. The company has a market capitalization of $9.18 billion, a P/E ratio of 34.67, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52 week low of $65.26 and a 52 week high of $213.66. The stock’s fifty day moving average is $194.79 and its two-hundred day moving average is $175.59.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating 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%. Equities analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.