Vontobel Holding Ltd. Invests $499,000 in Carpenter Technology Co. (NYSE:CRS)

Vontobel Holding Ltd. purchased a new position in Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,044 shares of the basic materials company’s stock, valued at approximately $499,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its position in shares of Carpenter Technology by 322.5% in the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 887 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Carpenter Technology in the 3rd quarter worth $91,000. Strs Ohio boosted its position in shares of Carpenter Technology by 400.0% in the 3rd quarter. Strs Ohio now owns 2,500 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 2,000 shares during the last quarter. Penobscot Investment Management Company Inc. bought a new position in shares of Carpenter Technology in the 3rd quarter worth $202,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Carpenter Technology during the third quarter worth about $202,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

CRS stock opened at $78.92 on Tuesday. The business’s 50-day moving average price is $69.75 and its two-hundred day moving average price is $67.72. The company has a current ratio of 2.90, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.90 billion, a PE ratio of 27.31 and a beta of 1.56. Carpenter Technology Co. has a 1-year low of $44.40 and a 1-year high of $82.16.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 25th. The basic materials company reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $669.56 million. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. As a group, research analysts forecast that Carpenter Technology Co. will post 3.96 earnings per share for the current year.

Carpenter Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, April 22nd. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.01%. Carpenter Technology’s payout ratio is currently 27.68%.

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.