Harbor Capital Advisors Inc. Has $11.38 Million Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Harbor Capital Advisors Inc. lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 76.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,339 shares of the basic materials company’s stock after acquiring an additional 30,901 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Carpenter Technology were worth $11,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. SteelPeak Wealth LLC bought a new position in Carpenter Technology during the third quarter worth $476,000. First Trust Direct Indexing L.P. lifted its stake in shares of Carpenter Technology by 8.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 180 shares during the period. New York State Teachers Retirement System boosted its position in shares of Carpenter Technology by 6.8% during the 3rd quarter. New York State Teachers Retirement System now owns 64,163 shares of the basic materials company’s stock valued at $10,239,000 after purchasing an additional 4,094 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Carpenter Technology by 15,857.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 23,777 shares of the basic materials company’s stock valued at $3,794,000 after purchasing an additional 23,628 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Carpenter Technology by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,968 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 457 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRS has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research raised their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Trading Up 3.9 %

Shares of Carpenter Technology stock opened at $155.36 on Friday. The stock has a market capitalization of $7.74 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The stock has a 50 day moving average price of $151.78 and a two-hundred day moving average price of $125.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $166.67.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. As a group, equities analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Carpenter Technology’s dividend payout ratio (DPR) is currently 17.82%.

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.