1,708 Shares in Carpenter Technology Corporation $CRS Bought by Cache Advisors LLC

Cache Advisors LLC purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,708 shares of the basic materials company’s stock, valued at approximately $538,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aspex Management HK Ltd purchased a new stake in Carpenter Technology during the third quarter worth about $136,215,000. TOMS Capital Investment Management LP purchased a new stake in Carpenter Technology during the second quarter worth about $106,683,000. Qube Research & Technologies Ltd boosted its holdings in Carpenter Technology by 111.6% during the third quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock worth $151,731,000 after buying an additional 325,919 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Carpenter Technology by 244.3% during the second quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock worth $113,669,000 after buying an additional 291,829 shares in the last quarter. Finally, SurgoCap Partners LP boosted its holdings in Carpenter Technology by 29.5% during the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock worth $294,377,000 after buying an additional 272,896 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRS. 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 research note on Saturday, January 31st. 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. Finally, JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.11.

Carpenter Technology Price Performance

CRS opened at $428.60 on Thursday. The company has a fifty day simple moving average of $379.72 and a 200 day simple moving average of $330.24. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 1.53 and a beta of 1.24. Carpenter Technology Corporation has a twelve month low of $146.81 and a twelve month high of $428.91. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $728.00 million during 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 was up 7.5% on a year-over-year basis. During the same period last year, the business earned $1.66 EPS. Equities research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Insider Transactions at Carpenter Technology

In other news, Director Steven E. Karol sold 3,500 shares of the firm’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 transaction, the director directly owned 225,381 shares in the company, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James D. Dee sold 15,800 shares of the firm’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 completion of the transaction, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,300 shares of company stock worth $8,664,044. Insiders own 2.90% of the company’s stock.

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.