Universal Beteiligungs und Servicegesellschaft mbH Sells 20,762 Shares of Carpenter Technology Corporation $CRS

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 41.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,568 shares of the basic materials company’s stock after selling 20,762 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Carpenter Technology worth $7,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc lifted its stake in shares of Carpenter Technology by 3.9% during the third quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 37 shares during the period. ANB Bank raised its holdings in Carpenter Technology by 3.3% during the 2nd quarter. ANB Bank now owns 1,304 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 42 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Carpenter Technology by 3.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 43 shares during the period. Versant Capital Management Inc boosted its stake in shares of Carpenter Technology by 15.3% in the 3rd quarter. Versant Capital Management Inc now owns 376 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 50 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 60 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRS. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. BTIG Research lifted their target price on shares of Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 27th. TD Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Eight 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 currently has a consensus rating of “Moderate Buy” and an average price target of $371.14.

Insider Activity

In related news, VP Elizabeth A. Socci sold 3,900 shares of the business’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 transaction, the vice president directly owned 9,594 shares in the company, valued at approximately $3,082,072.50. The trade was a 28.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian J. Malloy sold 4,130 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total value of $1,253,537.60. Following the sale, the chief operating officer directly owned 78,875 shares of the company’s stock, valued at approximately $23,940,140. The trade was a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 79,358 shares of company stock valued at $24,254,008 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 0.4%

CRS opened at $336.21 on Monday. The firm’s fifty day moving average is $323.40 and its two-hundred day moving average is $285.04. The firm has a market cap of $16.75 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $348.99. 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 (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.30. The company had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. Equities research analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, January 27th. Carpenter Technology’s payout ratio 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.