Nuveen Asset Management LLC Has $64.01 Million Holdings in Carpenter Technology Co. (NYSE:CRS)

Nuveen Asset Management LLC trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,198 shares of the basic materials company's stock after selling 32,587 shares during the period. Nuveen Asset Management LLC owned about 0.76% of Carpenter Technology worth $64,014,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in Carpenter Technology during the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its holdings in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after buying an additional 127 shares in the last quarter. UMB Bank n.a. boosted its holdings in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after buying an additional 191 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Carpenter Technology by 23.5% during the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after buying an additional 109 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after buying an additional 71 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Insider Activity

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

Carpenter Technology Trading Up 1.9%

Carpenter Technology stock traded up $4.23 during midday trading on Friday, reaching $230.23. The stock had a trading volume of 886,496 shares, compared to its average volume of 763,109. The firm's fifty day simple moving average is $193.16 and its two-hundred day simple moving average is $189.85. Carpenter Technology Co. has a twelve month low of $95.17 and a twelve month high of $236.59. 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 $11.46 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 0.93 and a beta of 1.33.

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

Carpenter Technology declared that its board has initiated a share repurchase plan on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management 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. Stockholders of record on Tuesday, April 22nd will be issued 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 dividend yield of 0.35%. Carpenter Technology's dividend payout ratio is currently 11.33%.

Analyst Ratings Changes

A number of analysts recently weighed in on CRS shares. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $168.00.

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.