Jump Financial LLC Invests $1.75 Million in Carpenter Technology Co. (NYSE:CRS)

Jump Financial LLC bought a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,332 shares of the basic materials company's stock, valued at approximately $1,753,000.

Other institutional investors also recently modified their holdings of the company. Guggenheim Capital LLC increased its position in Carpenter Technology by 83.4% during the 4th quarter. Guggenheim Capital LLC now owns 6,817 shares of the basic materials company's stock valued at $1,157,000 after purchasing an additional 3,101 shares during the period. Forest Avenue Capital Management LP raised its stake in 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 worth $51,162,000 after buying an additional 143,168 shares during the last quarter. Mariner LLC raised its stake in Carpenter Technology by 6.0% during the fourth quarter. Mariner LLC now owns 6,485 shares of the basic materials company's stock worth $1,101,000 after buying an additional 366 shares during the last quarter. Barclays PLC lifted its holdings in Carpenter Technology by 15.9% in the fourth quarter. Barclays PLC now owns 117,877 shares of the basic materials company's stock valued at $20,004,000 after buying an additional 16,132 shares during the period. Finally, Summit Investment Advisors Inc. boosted its position in Carpenter Technology by 215.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,914 shares of the basic materials company's stock valued at $2,531,000 after acquiring an additional 10,181 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 0.7 %

Shares of CRS stock traded down $1.43 on Friday, hitting $197.97. The stock had a trading volume of 271,151 shares, compared to its average volume of 748,359. Carpenter Technology Co. has a 12-month low of $79.14 and a 12-month high of $213.66. 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 business has a 50 day moving average of $183.53 and a 200 day moving average of $181.38. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 37.36, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $729.67 million. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio is 15.09%.

Carpenter Technology announced that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to buy up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

CRS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Northcoast Research upgraded 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 note on Friday, January 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.17.

About Carpenter Technology

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.