Swiss National Bank Acquires 2,100 Shares of Carpenter Technology Co. (NYSE:CRS)

Swiss National Bank lifted its holdings in shares of Carpenter Technology Co. (NYSE:CRS – Get Rating) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 116,600 shares of the basic materials company’s stock after acquiring an additional 2,100 shares during the period. Swiss National Bank’s holdings in Carpenter Technology were worth $4,307,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new stake in shares of Carpenter Technology during the 3rd quarter worth about $373,000. Aigen Investment Management LP acquired a new stake in Carpenter Technology in the 3rd quarter valued at about $219,000. Truist Financial Corp acquired a new stake in Carpenter Technology in the 3rd quarter valued at about $273,000. ExodusPoint Capital Management LP acquired a new stake in Carpenter Technology in the 3rd quarter valued at about $1,013,000. Finally, Frontier Capital Management Co. LLC increased its position in Carpenter Technology by 26.7% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,598,582 shares of the basic materials company’s stock valued at $49,780,000 after acquiring an additional 337,241 shares in the last quarter. 92.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CRS. StockNews.com began coverage on shares of Carpenter Technology in a research report on Thursday. They issued a “hold” rating for the company. Cowen raised their price objective on shares of Carpenter Technology from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, January 27th.

Carpenter Technology Price Performance

NYSE CRS opened at $47.78 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.45 and a debt-to-equity ratio of 0.52. Carpenter Technology Co. has a 12-month low of $24.76 and a 12-month high of $54.89. The company has a market capitalization of $2.32 billion, a PE ratio of 113.76 and a beta of 1.76. The firm’s 50 day moving average is $45.91 and its 200-day moving average is $44.22.

Carpenter Technology (NYSE:CRS – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Carpenter Technology had a net margin of 0.87% and a return on equity of 1.35%. The company had revenue of $690.10 million for the quarter, compared to the consensus estimate of $632.50 million. During the same period last year, the company earned ($0.20) earnings per share. The firm’s revenue was up 41.1% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology Co. will post 1.04 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Tuesday, May 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, May 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.67%. Carpenter Technology’s payout ratio is 190.48%.

Carpenter Technology Company Profile

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Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment is composed of its major premium alloy and stainless-steel manufacturing operations.