Navellier & Associates Inc. Has $9.56 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Navellier & Associates Inc. grew its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 105.6% in the 4th quarter, Holdings Channel reports. The fund owned 56,305 shares of the basic materials company’s stock after buying an additional 28,916 shares during the period. Carpenter Technology accounts for 1.1% of Navellier & Associates Inc.’s investment portfolio, making the stock its 16th largest holding. Navellier & Associates Inc.’s holdings in Carpenter Technology were worth $9,556,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creative Planning lifted its stake in Carpenter Technology by 55.0% in the 3rd 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 grew its stake in shares of Carpenter Technology by 2.5% during the third 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 last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 acquiring an additional 94,083 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of 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 last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

NYSE CRS opened at $195.21 on Friday. The company has a market capitalization 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 twelve month low of $62.99 and a twelve month high of $213.65. The stock has a fifty day simple moving average of $188.87 and a 200 day simple moving average of $170.14. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results 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%. Sell-side analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective 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. Based on data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average price target of $156.33.

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.