Fieldview Capital Management LLC Makes New Investment in Carpenter Technology Corporation $CRS

Fieldview Capital Management LLC acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,861 shares of the basic materials company’s stock, valued at approximately $457,000.

Other large investors have also modified their holdings of the company. TOMS Capital Investment Management LP purchased a new position in shares of Carpenter Technology during the second quarter worth approximately $106,683,000. Qube Research & Technologies Ltd acquired a new stake in Carpenter Technology during the 2nd quarter worth $80,711,000. Raymond James Financial Inc. grew its position in Carpenter Technology by 244.3% during the 2nd quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock worth $113,669,000 after purchasing an additional 291,829 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Carpenter Technology by 406.4% in the third quarter. TimesSquare Capital Management LLC now owns 306,970 shares of the basic materials company’s stock valued at $75,373,000 after purchasing an additional 246,348 shares during the period. Finally, HRT Financial LP purchased a new stake in shares of Carpenter Technology in the second quarter valued at about $49,629,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 1.4%

NYSE CRS opened at $401.51 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $20.00 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.55 and a beta of 1.22. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $412.31. The firm has a 50-day moving average price of $356.33 and a 200 day moving average price of $309.36.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.During the same period in the prior year, the business posted $1.66 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s payout ratio is currently 9.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRS shares. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. BTIG Research upped their price objective on Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 30th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research report on Thursday, November 13th. TD Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Nine investment 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 presently has an average rating of “Moderate Buy” and an average price target of $385.50.

Insiders Place Their Bets

In other news, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian J. Malloy sold 4,130 shares of the company’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 value of $1,253,537.60. Following the completion of the sale, the chief operating officer owned 78,875 shares in the company, valued at approximately $23,940,140. This represents a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,430 shares of company stock worth $9,917,582. 2.90% of the stock is owned by company insiders.

About Carpenter Technology

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.