Allworth Financial LP Has $1.98 Million Stock Holdings in Carpenter Technology Corporation $CRS

Allworth Financial LP raised its holdings in Carpenter Technology Corporation (NYSE:CRS) by 21.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,172 shares of the basic materials company’s stock after buying an additional 1,258 shares during the period. Allworth Financial LP’s holdings in Carpenter Technology were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRS. Egerton Capital UK LLP bought a new position in Carpenter Technology in the 1st quarter valued at about $329,727,000. Invesco Ltd. raised its stake in shares of 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 last quarter. William Blair Investment Management LLC bought a new position in shares of Carpenter Technology in the second quarter valued at approximately $134,790,000. Nuveen LLC bought a new position in shares of Carpenter Technology in the first quarter valued at approximately $63,136,000. Finally, Driehaus Capital Management LLC boosted its position in shares of Carpenter Technology by 79.2% during the first quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock valued at $103,806,000 after buying an additional 253,163 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $324.69 on Friday. The company has a 50-day moving average price of $267.98 and a two-hundred day moving average price of $255.40. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $342.11. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $16.18 billion, a PE ratio of 39.69, a P/E/G ratio of 1.41 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. The company had revenue of $733.70 million for the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. Carpenter Technology’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. Equities analysts forecast 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. Stockholders of record on Tuesday, October 21st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.78%.

Insider Activity

In related news, CEO Tony R. Thene sold 19,000 shares of the business’s 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 sale, the chief executive officer directly owned 535,019 shares in the company, valued at approximately $131,074,304.81. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director I Martin Inglis sold 5,691 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $244.54, for a total value of $1,391,677.14. Following the sale, the director directly owned 6,732 shares in the company, valued at $1,646,243.28. This trade represents a 45.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 28,124 shares of company stock worth $6,890,250. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Zacks Research lowered Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. BTIG Research increased their target price on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a report on Monday, October 27th. TD Cowen raised their price target on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Jones Trading assumed coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $371.14.

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.