Jefferies Financial Group Inc. Has $2.11 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Jefferies Financial Group Inc. decreased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,436 shares of the basic materials company's stock after selling 3,214 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Carpenter Technology were worth $2,111,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of Carpenter Technology by 28.3% in 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 in the last quarter. Invesco Ltd. grew 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 buying an additional 357,417 shares in the last quarter. SurgoCap Partners LP grew its stake in shares of Carpenter Technology by 117.6% in 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 grew its stake in shares of Carpenter Technology by 3.5% in 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 position in Carpenter Technology by 31.8% during the fourth quarter. Third Point LLC now owns 870,000 shares of the basic materials company's stock worth $147,648,000 after purchasing an additional 210,000 shares during the period. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Performance

Carpenter Technology stock traded up $1.59 during trading hours on Friday, reaching $234.98. 870,253 shares of the company were exchanged, compared to its average volume of 769,288. Carpenter Technology Co. has a 12 month low of $95.17 and a 12 month high of $238.94. 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 firm has a market cap of $11.70 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 0.93 and a beta of 1.33. The stock has a 50-day moving average of $197.57 and a 200 day moving average of $191.99.

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 for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The company had revenue of $727.00 million during the quarter, compared to analysts' expectations of $729.67 million. During the same period in the prior year, the business earned $1.19 earnings per share. Carpenter Technology's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders 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 dividend yield of 0.34%. Carpenter Technology's dividend payout ratio is 11.33%.

Carpenter Technology declared that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director I Martin Inglis sold 3,433 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total value of $678,566.78. Following the completion of the sale, the director now directly owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.

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.