Oberweis Asset Management Inc. Has $14.16 Million Position in Carpenter Technology Co. (NYSE:CRS)

Oberweis Asset Management Inc. increased its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,441 shares of the basic materials company's stock after purchasing an additional 6,201 shares during the quarter. Oberweis Asset Management Inc. owned approximately 0.17% of Carpenter Technology worth $14,161,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised 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 worth $754,295,000 after acquiring an additional 979,313 shares in the last quarter. Norges Bank bought a new position in shares of Carpenter Technology during the fourth quarter worth approximately $100,505,000. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 479,985 shares during the period. Invesco Ltd. boosted its holdings in 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 purchasing an additional 357,417 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Carpenter Technology by 905.7% during the 4th quarter. Voya Investment Management LLC now owns 323,831 shares of the basic materials company's stock worth $54,957,000 after purchasing an additional 291,631 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Down 0.7 %

NYSE CRS traded down $1.41 during mid-day trading on Tuesday, reaching $197.59. 259,066 shares of the stock were exchanged, compared to its average volume of 751,227. 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 stock has a market cap of $9.87 billion, a P/E ratio of 37.28, a P/E/G ratio of 0.93 and a beta of 1.28. The stock has a 50 day simple moving average of $183.17 and a 200-day simple moving average of $182.16. Carpenter Technology Co. has a one year low of $82.46 and a one year high of $213.66.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $729.67 million. During the same period in the previous year, the business earned $1.19 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

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

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be paid 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 0.40%. Carpenter Technology's dividend payout ratio is currently 11.33%.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent research reports. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.