Carpenter Technology Co. (NYSE:CRS) Position Lessened by Orser Capital Management LLC

Orser Capital Management LLC lowered its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,393 shares of the basic materials company's stock after selling 1,700 shares during the quarter. Carpenter Technology comprises approximately 4.2% of Orser Capital Management LLC's investment portfolio, making the stock its 6th largest holding. Orser Capital Management LLC owned about 0.06% of Carpenter Technology worth $5,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its position in Carpenter Technology by 28.3% during the fourth 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. Invesco Ltd. raised its position in shares of Carpenter Technology by 30.3% in the fourth 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 period. SurgoCap Partners LP lifted its stake in shares of Carpenter Technology by 117.6% during the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock valued at $244,734,000 after buying an additional 779,357 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Carpenter Technology by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock valued at $193,279,000 after buying an additional 38,411 shares in the last quarter. Finally, Third Point LLC boosted its holdings in Carpenter Technology by 31.8% in the 4th quarter. Third Point LLC now owns 870,000 shares of the basic materials company's stock worth $147,648,000 after buying an additional 210,000 shares during the period. Institutional investors own 92.03% of the company's stock.

Analyst Ratings Changes

CRS has been the topic of a number of analyst reports. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

Carpenter Technology Price Performance

Shares of CRS traded up $0.84 during trading hours on Wednesday, reaching $247.14. 615,616 shares of the company's stock traded hands, compared to its average volume of 770,913. Carpenter Technology Co. has a 12 month low of $95.17 and a 12 month high of $250.39. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market cap of $12.30 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. The firm's 50 day simple moving average is $199.81 and its 200-day simple moving average is $192.82.

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

Carpenter Technology Announces Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.32%. Carpenter Technology's payout ratio is 11.33%.

Carpenter Technology announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to buy up to 4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Carpenter Technology

In related news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total transaction of $678,566.78. Following the transaction, the director now directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.90% of the company's stock.

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.