Strs Ohio Invests $1.20 Million in Carpenter Technology Corporation $CRS

Strs Ohio acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,600 shares of the basic materials company’s stock, valued at approximately $1,196,000.

Other large investors have also bought and sold shares of the company. Egerton Capital UK LLP acquired a new stake in Carpenter Technology in the first quarter worth $329,727,000. Invesco Ltd. grew its holdings in Carpenter Technology by 37.1% in the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock worth $381,869,000 after purchasing an additional 570,441 shares during the period. GAMMA Investing LLC grew its holdings in Carpenter Technology by 19,404.3% in the first quarter. GAMMA Investing LLC now owns 479,221 shares of the basic materials company’s stock worth $86,825,000 after purchasing an additional 476,764 shares during the period. Nuveen LLC acquired a new stake in Carpenter Technology in the first quarter worth $63,136,000. Finally, Driehaus Capital Management LLC grew its holdings in Carpenter Technology by 79.2% in the first quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock worth $103,806,000 after purchasing an additional 253,163 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRS has been the subject of a number of research reports. Cowen restated a “buy” rating on shares of Carpenter Technology in a report on Thursday, June 12th. BTIG Research restated a “buy” rating on shares of Carpenter Technology in a report on Monday, August 4th. Benchmark lifted their price objective on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average price target of $278.33.

Carpenter Technology Trading Up 1.0%

NYSE:CRS opened at $243.66 on Thursday. The company has a fifty day moving average of $255.56 and a 200 day moving average of $228.50. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $290.84. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $12.15 billion, a P/E ratio of 32.84, a P/E/G ratio of 1.10 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.03 by $0.18. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. The firm had revenue of $755.60 million during the quarter, compared to analysts’ expectations of $790.73 million. During the same period last year, the company posted $1.82 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Tuesday, August 26th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, August 26th. Carpenter Technology’s dividend payout ratio (DPR) is currently 10.78%.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the sale, the director directly owned 180,000 shares in the company, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony R. Thene sold 19,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the sale, the chief executive officer owned 535,019 shares of the company’s stock, valued at approximately $131,074,304.81. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,124 shares of company stock worth $6,890,250. 2.90% of the stock is owned by corporate insiders.

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.