Carpenter Technology Corporation $CRS Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Carpenter Technology Corporation (NYSE:CRS) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 528,042 shares of the basic materials company’s stock after selling 22,013 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.06% of Carpenter Technology worth $178,658,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CRS. Ion Asset Management Ltd. purchased a new position in Carpenter Technology in the third quarter worth approximately $4,027,000. American Century Companies Inc. increased its position 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 purchasing an additional 18,201 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Carpenter Technology by 77.9% in the 3rd quarter. WCM Investment Management LLC now owns 357,498 shares of the basic materials company’s stock valued at $86,261,000 after purchasing an additional 156,554 shares in the last quarter. Kinetic Partners Management LP raised its holdings in shares of Carpenter Technology by 15.5% in the 3rd quarter. Kinetic Partners Management LP now owns 386,500 shares of the basic materials company’s stock valued at $94,901,000 after purchasing an additional 51,800 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth $674,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the completion of the sale, the director directly owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,300 shares of company stock worth $8,664,044 over the last three months. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Stock Down 1.4%

Shares of NYSE CRS opened at $371.69 on Tuesday. The business has a 50-day moving average price of $371.04 and a 200 day moving average price of $323.08. The stock has a market cap of $18.51 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $412.31.

Carpenter Technology (NYSE:CRS) last released its quarterly 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. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Equities research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.29%.

Analyst Ratings Changes

A number of brokerages have issued reports on CRS. Susquehanna assumed coverage on Carpenter Technology in a report on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price target for the company. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Finally, KeyCorp assumed coverage on shares of Carpenter Technology in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $380.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $385.50.

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.