Allspring Global Investments Holdings LLC Has $2.33 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Allspring Global Investments Holdings LLC trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,956 shares of the basic materials company’s stock after selling 6,913 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Carpenter Technology worth $2,333,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in Carpenter Technology during the first quarter worth about $26,000. Tower Research Capital LLC TRC lifted its holdings 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 acquiring an additional 543 shares during the last quarter. Fifth Third Bancorp lifted its holdings 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 acquiring an additional 887 shares during the last quarter. 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. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 1.7 %

CRS stock opened at $78.04 on Monday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 27.00 and a beta of 1.56. The company has a current ratio of 2.90, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. Carpenter Technology Co. has a 12 month low of $44.40 and a 12 month high of $82.16. The firm has a 50-day moving average price of $69.44 and a 200-day moving average price of $67.62.

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

Carpenter Technology Increases Dividend

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

About Carpenter Technology

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.