Legal & General Group Plc Has $14.42 Million Position in Carpenter Technology Co. (NYSE:CRS)

Legal & General Group Plc cut its holdings in Carpenter Technology Co. (NYSE:CRS) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,984 shares of the basic materials company’s stock after selling 61,599 shares during the quarter. Legal & General Group Plc’s holdings in Carpenter Technology were worth $14,423,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRS. Pictet Asset Management Holding SA boosted its holdings in Carpenter Technology by 14.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,865 shares of the basic materials company’s stock worth $1,165,000 after purchasing an additional 877 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after acquiring an additional 10,094 shares in the last quarter. Manuka Financial LLC acquired a new position in shares of Carpenter Technology during the 4th quarter valued at about $368,000. Park Avenue Securities LLC bought a new position in shares of Carpenter Technology in the 4th quarter valued at approximately $419,000. Finally, XML Financial LLC lifted its holdings in Carpenter Technology by 215.3% in the 4th quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock worth $1,605,000 after purchasing an additional 6,460 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

NYSE:CRS opened at $174.85 on Wednesday. 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 $8.73 billion, a P/E ratio of 32.99, a PEG ratio of 0.93 and a beta of 1.28. The company has a fifty day moving average price of $184.79 and a 200 day moving average price of $180.56. Carpenter Technology Co. has a one year low of $74.21 and a one year high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology’s payout ratio is presently 15.09%.

Analysts Set New Price Targets

CRS has been the topic of several analyst reports. Northcoast Research upgraded Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology has an average 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.