Oberweis Asset Management Inc. Purchases 6,201 Shares of Carpenter Technology Co. (NYSE:CRS)

Oberweis Asset Management Inc. boosted its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,441 shares of the basic materials company's stock after purchasing an additional 6,201 shares during the quarter. Oberweis Asset Management Inc. owned about 0.17% of Carpenter Technology worth $14,161,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. grew its stake in Carpenter Technology by 2.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock valued at $410,000 after buying an additional 63 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Carpenter Technology by 11.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 71 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock worth $258,000 after purchasing an additional 78 shares during the period. Fifth Third Bancorp lifted its position in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 115 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

CRS has been the subject of several research reports. BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded down $0.70 during trading hours on Friday, reaching $198.70. The stock had a trading volume of 1,034,295 shares, compared to its average volume of 753,418. Carpenter Technology Co. has a twelve month low of $82.46 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 business's fifty day moving average is $183.39 and its two-hundred day moving average is $181.77. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.14. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The company had revenue of $727.00 million during the quarter, compared to analysts' expectations of $729.67 million. As a group, research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology announced that its Board of Directors has approved a stock buyback plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Carpenter Technology Dividend Announcement

The business 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's payout ratio is 15.09%.

Carpenter Technology Company 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.