MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 19,417 Shares of Carpenter Technology Co. (NYSE:CRS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 5.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 367,570 shares of the basic materials company's stock after purchasing an additional 19,417 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.74% of Carpenter Technology worth $62,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after buying an additional 979,313 shares during the period. Norges Bank acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at $100,505,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at $69,285,000. Finally, Invesco Ltd. lifted its stake in shares of Carpenter Technology by 30.3% in the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock valued at $260,884,000 after purchasing an additional 357,417 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Stock Performance

Shares of NYSE:CRS traded up $1.83 on Friday, hitting $232.27. 838,993 shares of the company were exchanged, compared to its average volume of 757,833. The company's 50 day moving average price is $188.18 and its two-hundred day moving average price is $187.36. Carpenter Technology Co. has a one year low of $95.17 and a one year high of $234.52. 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 market capitalization of $11.56 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 0.93 and a beta of 1.33.

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

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.34%. Carpenter Technology's dividend payout ratio (DPR) is currently 11.33%.

Carpenter Technology announced that its board has authorized a share buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRS shares. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $168.00.

Insider Activity

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total value of $678,566.78. Following the transaction, the director now directly owns 6,732 shares in the company, valued at $1,330,647.12. The trade was a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by company insiders.

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.