Catalyst Funds Management Pty Ltd Boosts Holdings in Carpenter Technology Corporation $CRS

Catalyst Funds Management Pty Ltd boosted its stake in Carpenter Technology Corporation (NYSE:CRS) by 158.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,300 shares of the basic materials company’s stock after acquiring an additional 5,700 shares during the period. Carpenter Technology comprises approximately 0.7% of Catalyst Funds Management Pty Ltd’s portfolio, making the stock its 26th largest position. Catalyst Funds Management Pty Ltd’s holdings in Carpenter Technology were worth $2,570,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Carpenter Technology by 23.0% in the 1st quarter. CWM LLC now owns 2,130 shares of the basic materials company’s stock valued at $386,000 after purchasing an additional 398 shares during the last quarter. Victory Capital Management Inc. increased its position in Carpenter Technology by 40.3% during the first quarter. Victory Capital Management Inc. now owns 22,408 shares of the basic materials company’s stock worth $4,060,000 after buying an additional 6,438 shares during the period. IFP Advisors Inc lifted its stake in Carpenter Technology by 1,121.7% in the first quarter. IFP Advisors Inc now owns 562 shares of the basic materials company’s stock valued at $102,000 after buying an additional 516 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Carpenter Technology by 149.4% in the first quarter. Allianz Asset Management GmbH now owns 115,753 shares of the basic materials company’s stock valued at $20,972,000 after buying an additional 69,336 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Carpenter Technology by 22.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 61,886 shares of the basic materials company’s stock valued at $11,213,000 after buying an additional 11,457 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Up 0.5%

Shares of NYSE:CRS opened at $324.09 on Thursday. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week 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’s 50-day simple moving average is $274.34 and its 200-day simple moving average is $259.31. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.41 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data 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. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm had revenue of $733.70 million during the quarter, compared to the consensus estimate of $741.18 million. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research 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 $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s payout ratio is 9.78%.

Insiders Place Their Bets

In related news, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the transaction, the director owned 180,000 shares of the company’s stock, valued at $44,240,400. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRS. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Jones Trading initiated coverage on shares of Carpenter Technology in a research note on Wednesday, October 22nd. They set a “buy” rating and a $400.00 target price for the company. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price 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.