Harbor Capital Advisors Inc. Has $11.99 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Harbor Capital Advisors Inc. reduced its holdings in Carpenter Technology Co. (NYSE:CRS) by 1.0% during the 4th quarter, Holdings Channel reports. The fund owned 70,652 shares of the basic materials company’s stock after selling 687 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Carpenter Technology were worth $11,990,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. FMR LLC boosted its stake in Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after purchasing an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC lifted its position in Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after buying an additional 17,497 shares in the last quarter. American Century Companies Inc. grew its holdings in Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after acquiring an additional 479,047 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after acquiring an additional 103,559 shares in the last quarter. Finally, Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology during the second quarter valued at approximately $73,850,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Down 0.9 %

Shares of CRS traded down $1.61 during trading hours on Friday, reaching $182.24. The stock had a trading volume of 222,058 shares, compared to its average volume of 554,754. The firm has a 50-day moving average of $179.13 and a 200 day moving average of $153.10. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.08 billion, a P/E ratio of 40.59, a P/E/G ratio of 0.90 and a beta of 1.55. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same period in the prior year, the business earned $0.88 EPS. Carpenter Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.00.

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.