Vontobel Holding Ltd. Sells 482 Shares of Carpenter Technology Corporation $CRS

Vontobel Holding Ltd. reduced its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 34.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 932 shares of the basic materials company’s stock after selling 482 shares during the period. Vontobel Holding Ltd.’s holdings in Carpenter Technology were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRS. Rise Advisors LLC bought a new position in Carpenter Technology during the first quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new position in shares of Carpenter Technology in the first quarter worth approximately $36,000. Bessemer Group Inc. grew its holdings in shares of Carpenter Technology by 50.3% in the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 77 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Carpenter Technology in the first quarter worth approximately $49,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Carpenter Technology in the first quarter worth approximately $71,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

NYSE:CRS opened at $242.41 on Thursday. The stock has a market cap of $12.08 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 1.10 and a beta of 1.46. The firm’s fifty day simple moving average is $244.60 and its 200 day simple moving average is $236.46. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month 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.

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

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 annualized dividend and a yield of 0.3%. Carpenter Technology’s payout ratio is 10.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRS. Weiss Ratings restated a “buy (b+)” rating on shares of Carpenter Technology in a report on Wednesday, October 8th. BTIG Research restated a “buy” rating on shares of Carpenter Technology in a report on Monday, August 4th. Finally, Zacks Research cut shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average price target of $278.33.

Insider Activity at Carpenter Technology

In related news, Director I Martin Inglis sold 5,691 shares of Carpenter Technology stock in a transaction on Monday, August 18th. The shares were sold at an average price of $244.54, for a total value of $1,391,677.14. Following the sale, the director owned 6,732 shares in the company, valued at $1,646,243.28. The trade was a 45.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction on 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 owned 180,000 shares in the company, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,124 shares of company stock worth $6,890,250 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

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.