Harvest Investment Services LLC Has $3.31 Million Position in Carpenter Technology Co. (NYSE:CRS)

Harvest Investment Services LLC increased its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 36.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,477 shares of the basic materials company's stock after buying an additional 5,224 shares during the quarter. Harvest Investment Services LLC's holdings in Carpenter Technology were worth $3,305,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of 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 purchasing an additional 979,313 shares during the period. Norges Bank acquired a new position in shares of Carpenter Technology during the fourth quarter valued at approximately $100,505,000. Allspring Global Investments Holdings LLC raised its holdings in Carpenter Technology by 428.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock worth $103,714,000 after purchasing an additional 479,985 shares in the last quarter. Invesco Ltd. raised its holdings in Carpenter Technology by 30.3% during the fourth quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock worth $260,884,000 after purchasing an additional 357,417 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Carpenter Technology by 120.4% in the fourth quarter. JPMorgan Chase & Co. now owns 331,874 shares of the basic materials company's stock worth $56,322,000 after purchasing an additional 181,317 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRS has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research report on Friday, January 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and an average price target of $167.17.

Carpenter Technology Trading Down 0.4 %

Shares of NYSE CRS traded down $0.70 during mid-day trading on Friday, hitting $198.70. 1,034,295 shares of the company traded hands, compared to its average volume of 753,418. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 1 year low of $82.46 and a 1 year high of $213.66. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 0.93 and a beta of 1.28. The business has a 50 day moving average of $183.39 and a two-hundred day moving average of $181.77.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating 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 analyst estimates of $729.67 million. On average, sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 15.09%.

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

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.