Gabelli Funds LLC Makes New Investment in Carpenter Technology Co. (NYSE:CRS)

Gabelli Funds LLC bought a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,500 shares of the basic materials company's stock, valued at approximately $1,782,000.

A number of other institutional investors have also recently bought and sold shares of CRS. Pictet Asset Management Holding SA increased its position in shares of Carpenter Technology by 14.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,865 shares of the basic materials company's stock valued at $1,165,000 after acquiring an additional 877 shares during the period. Tidal Investments LLC boosted its stake in shares of Carpenter Technology by 91.9% in the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock worth $3,364,000 after buying an additional 10,094 shares during the last quarter. Manuka Financial LLC purchased a new position in Carpenter Technology during the fourth quarter valued at $368,000. Park Avenue Securities LLC purchased a new position in Carpenter Technology during the fourth quarter valued at $419,000. Finally, XML Financial LLC lifted its position in shares of Carpenter Technology by 215.3% in the fourth quarter. XML Financial LLC now owns 9,460 shares of the basic materials company's stock valued at $1,605,000 after acquiring an additional 6,460 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRS shares. JPMorgan Chase & Co. lifted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and an average target price of $167.17.

Carpenter Technology Stock Up 3.0 %

Shares of Carpenter Technology stock traded up $5.71 during trading hours on Thursday, hitting $196.44. The company had a trading volume of 761,075 shares, compared to its average volume of 745,881. The company's 50-day moving average is $183.33 and its two-hundred day moving average is $181.11. Carpenter Technology Co. has a twelve month low of $78.20 and a twelve month high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The company has a market cap of $9.81 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology's dividend payout ratio is presently 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.