SeaTown Holdings Pte. Ltd. Sells 9,160 Shares of Carpenter Technology Corporation $CRS

SeaTown Holdings Pte. Ltd. cut its holdings in Carpenter Technology Corporation (NYSE:CRS) by 22.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,395 shares of the basic materials company’s stock after selling 9,160 shares during the period. Carpenter Technology comprises approximately 5.9% of SeaTown Holdings Pte. Ltd.’s holdings, making the stock its 7th biggest position. SeaTown Holdings Pte. Ltd. owned 0.07% of Carpenter Technology worth $10,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in shares of Carpenter Technology during the second quarter valued at $28,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. Root Financial Partners LLC bought a new position in Carpenter Technology during the 3rd quarter valued at $41,000. MassMutual Private Wealth & Trust FSB boosted its stake in Carpenter Technology by 54.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock valued at $42,000 after buying an additional 60 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRS. KeyCorp began coverage on Carpenter Technology in a research report on Wednesday, March 25th. They set an “overweight” rating and a $380.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. Wells Fargo & Company assumed coverage on Carpenter Technology in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price on the stock. BTIG Research raised their price target on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Susquehanna started coverage on Carpenter Technology in a report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average target price of $387.11.

Insider Activity

In other news, 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 value of $1,333,920.00. Following the sale, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James D. Dee sold 15,800 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the sale, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. This represents a 17.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is owned by insiders.

Carpenter Technology Price Performance

Shares of CRS stock opened at $392.38 on Monday. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $421.12. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $375.93 and a two-hundred day moving average of $327.42. The company has a market capitalization of $19.54 billion, a P/E ratio of 45.57, a P/E/G ratio of 1.53 and a beta of 1.24.

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

Carpenter Technology Announces Dividend

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

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.