Wellington Management Group LLP Boosts Holdings in Carpenter Technology Co. (NYSE:CRS)

Wellington Management Group LLP increased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 64.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,095 shares of the basic materials company's stock after buying an additional 97,978 shares during the period. Wellington Management Group LLP owned about 0.50% of Carpenter Technology worth $42,274,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its stake in Carpenter Technology by 471.1% in the third quarter. Barclays PLC now owns 101,745 shares of the basic materials company's stock valued at $16,236,000 after purchasing an additional 83,930 shares during the last quarter. Fifth Third Bancorp boosted its position in 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 buying an additional 109 shares during the last quarter. KBC Group NV boosted its position in Carpenter Technology by 39.8% in the fourth quarter. KBC Group NV now owns 1,894 shares of the basic materials company's stock valued at $321,000 after buying an additional 539 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Carpenter Technology in the fourth quarter valued at approximately $1,233,000. Finally, SteelPeak Wealth LLC lifted its holdings in Carpenter Technology by 25.9% in the fourth quarter. SteelPeak Wealth LLC now owns 3,755 shares of the basic materials company's stock valued at $637,000 after acquiring an additional 773 shares during the period. Hedge funds and other institutional investors own 92.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.00.

Insiders Place Their Bets

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the sale, the director now owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Trading Up 1.9%

NYSE CRS traded up $4.40 during trading on Monday, hitting $239.40. The stock had a trading volume of 457,846 shares, compared to its average volume of 768,205. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.92 billion, a PE ratio of 45.11, a PEG ratio of 0.93 and a beta of 1.33. The firm has a 50 day moving average price of $197.57 and a 200 day moving average price of $191.99. Carpenter Technology Co. has a twelve month low of $95.17 and a twelve month high of $241.70.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.74 by $0.14. The business had revenue of $727.00 million during the quarter, compared to analyst estimates of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. As a group, equities research analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.33%. Carpenter Technology's dividend payout ratio (DPR) is 11.33%.

Carpenter Technology declared that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Carpenter Technology 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.