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

Sei Investments Co. increased its stake in Carpenter Technology Co. (NYSE:CRS) by 147.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,219 shares of the basic materials company’s stock after acquiring an additional 61,449 shares during the period. Sei Investments Co.’s holdings in Carpenter Technology were worth $17,517,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Carpenter Technology in the 4th quarter worth approximately $25,000. UMB Bank n.a. lifted its position in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Carpenter Technology during the third quarter worth $80,000. Morse Asset Management Inc bought a new position in Carpenter Technology during the third quarter valued at $84,000. Finally, Fifth Third Bancorp raised its stake in shares of Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 109 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Down 1.6 %

CRS opened at $186.00 on Friday. The company has a market capitalization of $9.29 billion, a P/E ratio of 35.09, a PEG 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 $69.90 and a 52 week high of $213.66. The stock’s fifty day moving average is $194.52 and its two-hundred day moving average is $178.42.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. Analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 payout ratio is 15.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of 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 research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

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.