Aquatic Capital Management LLC Takes $5.51 Million Position in Carpenter Technology Corporation $CRS

Aquatic Capital Management LLC purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,433 shares of the basic materials company’s stock, valued at approximately $5,508,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. WCM Investment Management LLC lifted its holdings in Carpenter Technology by 77.9% during the 3rd quarter. WCM Investment Management LLC now owns 357,498 shares of the basic materials company’s stock worth $86,261,000 after buying an additional 156,554 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Carpenter Technology by 4.0% in the 3rd quarter. American Century Companies Inc. now owns 467,702 shares of the basic materials company’s stock valued at $114,841,000 after acquiring an additional 18,201 shares during the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $674,000. Prudential Financial Inc. raised its position in shares of Carpenter Technology by 43.3% during the 2nd quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock valued at $15,500,000 after acquiring an additional 16,954 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Carpenter Technology during the third quarter worth $1,373,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 3.6%

Carpenter Technology stock opened at $374.23 on Tuesday. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $412.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The stock has a market capitalization of $18.64 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The firm has a 50 day simple moving average of $360.61 and a 200-day simple moving average of $313.29.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $733.76 million. During the same quarter in the previous year, the company earned $1.66 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, January 27th. Carpenter Technology’s payout ratio is presently 9.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRS shares. BTIG Research lifted their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Susquehanna initiated coverage on shares of Carpenter Technology in a research report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price target on the stock. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Nine 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, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $385.50.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the sale, the senior vice president directly owned 73,739 shares in the company, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of Carpenter Technology 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 completion of the transaction, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology 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.