Carpenter Technology Co. (NYSE:CRS) is Blue Grotto Capital LLC’s Largest Position

Blue Grotto Capital LLC increased its stake in Carpenter Technology Co. (NYSE:CRS) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 277,800 shares of the basic materials company’s stock after acquiring an additional 17,317 shares during the period. Carpenter Technology makes up 8.6% of Blue Grotto Capital LLC’s investment portfolio, making the stock its largest position. Blue Grotto Capital LLC’s holdings in Carpenter Technology were worth $47,145,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology in the 4th quarter valued at $25,000. UMB Bank n.a. boosted its holdings 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 valued at $52,000 after acquiring an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology during the third quarter valued at about $80,000. Morse Asset Management Inc acquired a new stake in Carpenter Technology during the third quarter worth about $84,000. Finally, Fifth Third Bancorp raised its holdings in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 109 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRS shares. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Trading Up 0.2 %

NYSE CRS opened at $195.61 on Wednesday. The stock has a market cap of $9.77 billion, a P/E ratio of 36.91, a PEG ratio of 0.93 and a beta of 1.55. The company’s fifty day simple moving average is $195.00 and its 200-day simple moving average is $178.28. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52 week low of $67.52 and a 52 week high of $213.66.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping 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%. Equities research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

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.