ExodusPoint Capital Management LP Raises Holdings in Carpenter Technology Co. (NYSE:CRS)

ExodusPoint Capital Management LP lifted its holdings in Carpenter Technology Co. (NYSE:CRS) by 107.7% in the 4th quarter, Holdings Channel reports. The firm owned 75,099 shares of the basic materials company’s stock after acquiring an additional 38,945 shares during the period. ExodusPoint Capital Management LP’s holdings in Carpenter Technology were worth $12,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Carpenter Technology in the 4th quarter worth about $100,505,000. Allspring Global Investments Holdings LLC grew its stake in shares of Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after acquiring an additional 479,985 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Carpenter Technology by 120.4% during the fourth quarter. JPMorgan Chase & Co. now owns 331,874 shares of the basic materials company’s stock valued at $56,322,000 after purchasing an additional 181,317 shares during the last quarter. Raymond James Financial Inc. bought a new position in Carpenter Technology during the fourth quarter valued at approximately $18,731,000. Finally, Wellington Management Group LLP boosted its holdings in Carpenter Technology by 64.8% in the fourth quarter. Wellington Management Group LLP now owns 249,095 shares of the basic materials company’s stock worth $42,274,000 after purchasing an additional 97,978 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target 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 research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Trading Down 11.1 %

NYSE:CRS opened at $166.49 on Friday. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. 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 business has a fifty day moving average price of $191.60 and a 200-day moving average price of $179.87. Carpenter Technology Co. has a one year low of $73.95 and a one year high of $213.66.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data 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 return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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 0.48%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 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.