Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 1,216 Carpenter Technology Co. (NYSE:CRS)

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,216 shares of the basic materials company’s stock, valued at approximately $206,000.

A number of other hedge funds have also modified their holdings of CRS. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the 4th quarter valued at $25,000. UMB Bank n.a. lifted its position in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology during the third quarter valued at $80,000. Morse Asset Management Inc purchased a new stake in Carpenter Technology during the 3rd quarter worth about $84,000. Finally, Fifth Third Bancorp raised its stake in Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $181.32 on Friday. Carpenter Technology Co. has a 1 year low of $70.20 and a 1 year high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm has a 50 day moving average price of $194.01 and a 200 day moving average price of $178.72. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict 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 was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

Analysts Set New Price Targets

CRS has been the topic of several analyst reports. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. 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 research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.