Navellier & Associates Inc. Acquires 28,916 Shares of Carpenter Technology Co. (NYSE:CRS)

Navellier & Associates Inc. increased its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 105.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,305 shares of the basic materials company’s stock after acquiring an additional 28,916 shares during the quarter. Carpenter Technology comprises 1.1% of Navellier & Associates Inc.’s portfolio, making the stock its 16th biggest holding. Navellier & Associates Inc. owned 0.11% of Carpenter Technology worth $9,556,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Carpenter Technology by 55.0% in the third quarter. Creative Planning now owns 11,558 shares of the basic materials company’s stock valued at $1,844,000 after purchasing an additional 4,100 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Carpenter Technology by 2.5% during the 3rd quarter. Raymond James & Associates now owns 120,971 shares of the basic materials company’s stock worth $19,305,000 after buying an additional 2,977 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Carpenter Technology by 523.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 112,049 shares of the basic materials company’s stock valued at $17,881,000 after buying an additional 94,083 shares during the last quarter. Private Advisor Group LLC raised its holdings in Carpenter Technology by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock valued at $846,000 after acquiring an additional 196 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after acquiring an additional 200,364 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

CRS has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $156.33.

Carpenter Technology Stock Down 6.2 %

NYSE CRS opened at $195.21 on Friday. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 0.98 and a beta of 1.54. Carpenter Technology Co. has a 1-year low of $62.99 and a 1-year high of $213.65. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $188.87 and a 200-day moving average of $170.14.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, equities research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s payout ratio is 15.09%.

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.