Emerald Advisers LLC Trims Position in Carpenter Technology Corporation $CRS

Emerald Advisers LLC decreased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,819 shares of the basic materials company’s stock after selling 3,950 shares during the quarter. Emerald Advisers LLC owned approximately 0.19% of Carpenter Technology worth $23,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in Carpenter Technology by 43.3% during the 2nd quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock worth $15,500,000 after acquiring an additional 16,954 shares in the last quarter. Schroder Investment Management Group grew its position in Carpenter Technology by 11.1% in the 2nd quarter. Schroder Investment Management Group now owns 57,625 shares of the basic materials company’s stock valued at $15,926,000 after acquiring an additional 5,757 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Carpenter Technology during the second quarter worth about $1,460,000. Whitaker Myers Wealth Managers LTD. acquired a new stake in shares of Carpenter Technology during the third quarter worth about $797,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Carpenter Technology by 15.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock worth $138,328,000 after purchasing an additional 71,872 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Brian J. Malloy sold 4,130 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total transaction of $1,253,537.60. Following the sale, the chief operating officer owned 78,875 shares of the company’s stock, valued at $23,940,140. The trade was a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the sale, the vice president owned 9,594 shares in the company, valued at approximately $3,082,072.50. This represents a 28.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 79,358 shares of company stock valued at $24,254,008. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRS. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $425.00 price target on shares of Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, BTIG Research increased their price target on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.14.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $335.85 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $348.99. The firm has a market capitalization of $16.73 billion, a P/E ratio of 41.06, a PEG ratio of 1.39 and a beta of 1.29. The company’s fifty day moving average is $323.09 and its two-hundred day moving average is $284.18.

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 the consensus estimate of $2.13 by $0.30. The firm had revenue of $733.70 million during 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%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. Analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.78%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.