Sei Investments Co. Boosts Holdings in Carpenter Technology Co. (NYSE:CRS)

Sei Investments Co. raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 147.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,219 shares of the basic materials company’s stock after buying an additional 61,449 shares during the period. Sei Investments Co. owned about 0.21% of Carpenter Technology worth $17,517,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of Carpenter Technology by 76.8% in the 3rd quarter. Citigroup Inc. now owns 63,137 shares of the basic materials company’s stock worth $10,075,000 after purchasing an additional 27,418 shares in the last quarter. Cerity Partners LLC bought a new stake in Carpenter Technology during the third quarter valued at about $540,000. Qsemble Capital Management LP purchased a new stake in Carpenter Technology in the third quarter worth about $229,000. The Manufacturers Life Insurance Company raised its stake in shares of Carpenter Technology by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 27,838 shares of the basic materials company’s stock worth $4,442,000 after buying an additional 908 shares during the period. Finally, FMR LLC lifted its position in shares of Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after buying an additional 1,108,963 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Down 1.6 %

Carpenter Technology stock opened at $186.00 on Friday. Carpenter Technology Co. has a 1 year low of $69.90 and a 1 year high of $213.66. The firm’s 50 day moving average price is $194.52 and its 200-day moving average price is $178.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The stock has a market cap of $9.29 billion, a P/E ratio of 35.09, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is presently 15.09%.

Analysts Set New Price Targets

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

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.