JPMorgan Chase & Co. Has $56.32 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

JPMorgan Chase & Co. lifted its position in shares of Carpenter Technology Co. (NYSE:CRS) by 120.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 331,874 shares of the basic materials company’s stock after purchasing an additional 181,317 shares during the quarter. JPMorgan Chase & Co.’s holdings in Carpenter Technology were worth $56,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CRS. Tidal Investments LLC boosted its stake in Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after buying an additional 10,094 shares in the last quarter. Manuka Financial LLC bought a new position in shares of Carpenter Technology during the 4th quarter worth about $368,000. Park Avenue Securities LLC acquired a new stake in shares of Carpenter Technology during the 4th quarter valued at about $419,000. XML Financial LLC increased its stake in Carpenter Technology by 215.3% in the fourth quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock valued at $1,605,000 after acquiring an additional 6,460 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 479,985 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $150.90 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52 week low of $74.21 and a 52 week high of $213.66. The firm has a fifty day moving average of $190.40 and a two-hundred day moving average of $180.19. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, equities research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.17.

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.