Y Intercept Hong Kong Ltd Purchases Shares of 5,281 Carpenter Technology Corporation $CRS

Y Intercept Hong Kong Ltd purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,281 shares of the basic materials company’s stock, valued at approximately $1,460,000.

Several other institutional investors have also added to or reduced their stakes in the company. Radnor Capital Management LLC grew its holdings in Carpenter Technology by 3.3% during the 2nd quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company’s stock valued at $343,000 after buying an additional 40 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Carpenter Technology by 3.9% in the 1st quarter. M&T Bank Corp now owns 1,541 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 58 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Carpenter Technology by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,798 shares of the basic materials company’s stock valued at $688,000 after purchasing an additional 97 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Carpenter Technology by 1.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 9,600 shares of the basic materials company’s stock valued at $1,739,000 after purchasing an additional 100 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Carpenter Technology by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 10,600 shares of the basic materials company’s stock valued at $1,921,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of CRS stock opened at $316.03 on Monday. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $330.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. The firm has a market capitalization of $15.74 billion, a P/E ratio of 38.63, a P/E/G ratio of 1.41 and a beta of 1.46. The stock has a 50 day moving average price of $253.60 and a 200 day moving average price of $247.68.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The firm had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. During the same period last year, the company earned $1.73 EPS. Carpenter Technology’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CRS shares. BTIG Research raised their price objective on Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. Zacks Research lowered Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. TD Cowen raised their price objective on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Friday, October 24th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.67.

Insider Buying and Selling

In other Carpenter Technology news, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the completion of the sale, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at $131,074,304.81. The trade was a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $843,762.74. Following the sale, the director directly owned 180,000 shares of the company’s stock, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,124 shares of company stock valued at $6,890,250. Insiders own 2.90% of the company’s stock.

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.