Carpenter Technology Co. (NYSE:CRS) Stake Lowered by Navellier & Associates Inc.

Navellier & Associates Inc. trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,389 shares of the basic materials company’s stock after selling 973 shares during the period. Navellier & Associates Inc. owned about 0.05% of Carpenter Technology worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new position in Carpenter Technology in the 2nd quarter worth about $33,000. National Bank of Canada FI acquired a new position in Carpenter Technology in the second quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its position in Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 178 shares in the last quarter. Covestor Ltd lifted its stake in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 685 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Carpenter Technology in the third quarter worth approximately $64,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $180.73 on Thursday. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $187.03. The firm has a fifty day simple moving average of $161.07 and a 200-day simple moving average of $134.43. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 0.94 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million during 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 revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.61 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is currently 17.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRS. BTIG Research raised their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $139.60.

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.