Guggenheim Capital LLC Has $1.16 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Guggenheim Capital LLC increased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 83.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,817 shares of the basic materials company's stock after purchasing an additional 3,101 shares during the quarter. Guggenheim Capital LLC's holdings in Carpenter Technology were worth $1,157,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CRS. Forest Avenue Capital Management LP boosted its holdings in shares of Carpenter Technology by 90.4% during the fourth quarter. Forest Avenue Capital Management LP now owns 301,468 shares of the basic materials company's stock valued at $51,162,000 after acquiring an additional 143,168 shares during the period. Mariner LLC boosted its stake in Carpenter Technology by 6.0% during the 4th quarter. Mariner LLC now owns 6,485 shares of the basic materials company's stock valued at $1,101,000 after purchasing an additional 366 shares during the period. Barclays PLC grew its position in Carpenter Technology by 15.9% in the 4th quarter. Barclays PLC now owns 117,877 shares of the basic materials company's stock worth $20,004,000 after purchasing an additional 16,132 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Carpenter Technology by 215.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,914 shares of the basic materials company's stock worth $2,531,000 after purchasing an additional 10,181 shares during the last quarter. Finally, Optimize Financial Inc bought a new position in Carpenter Technology in the 4th quarter worth about $321,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Shares of NYSE CRS traded down $0.11 during mid-day trading on Monday, reaching $198.89. 681,518 shares of the company traded hands, compared to its average volume of 753,130. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The firm has a market cap of $9.93 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a fifty-two week low of $82.46 and a fifty-two week high of $213.66. The stock has a fifty day simple moving average of $183.17 and a 200-day simple moving average of $182.16.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $727.00 million for 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 firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share. Equities research analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology declared that its board has approved a share repurchase program on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.40%. Carpenter Technology's dividend payout ratio (DPR) is 11.33%.

Analyst Upgrades and Downgrades

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

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.