Securian Asset Management Inc. Invests $639,000 in Carpenter Technology Co. (NYSE:CRS)

Securian Asset Management Inc. acquired a new position in Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,768 shares of the basic materials company’s stock, valued at approximately $639,000.

A number of other large investors also recently modified their holdings of CRS. Victory Capital Management Inc. raised its holdings in shares of Carpenter Technology by 54.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,068 shares of the basic materials company’s stock worth $3,681,000 after purchasing an additional 8,095 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $571,000. KBC Group NV raised its holdings in shares of Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after buying an additional 161 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $293,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $230,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. 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 target price on Carpenter Technology in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $183.76 on Monday. Carpenter Technology Co. has a fifty-two week low of $65.26 and a fifty-two week high of $213.66. The business has a 50 day moving average price of $194.79 and a two-hundred day moving average price of $175.83. 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 firm has a market cap of $9.18 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Sell-side analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

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

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.