Advisors Asset Management Inc. Has $7.31 Million Stock Position in Carpenter Technology Corporation $CRS

Advisors Asset Management Inc. lifted its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,766 shares of the basic materials company’s stock after acquiring an additional 1,722 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.06% of Carpenter Technology worth $7,309,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Versor Investments LP bought a new position in Carpenter Technology in the 3rd quarter valued at about $327,000. Navellier & Associates Inc. boosted its stake in Carpenter Technology by 1.6% in the third quarter. Navellier & Associates Inc. now owns 52,165 shares of the basic materials company’s stock valued at $12,809,000 after buying an additional 823 shares in the last quarter. Arista Wealth Management LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $247,000. Oppenheimer & Co. Inc. increased its holdings in shares of Carpenter Technology by 1.7% during the third quarter. Oppenheimer & Co. Inc. now owns 3,624 shares of the basic materials company’s stock worth $890,000 after buying an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Carpenter Technology by 38.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 595 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 165 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

CRS opened at $369.45 on Thursday. The firm has a 50-day moving average of $329.94 and a 200 day moving average of $290.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.26 and a current ratio of 4.25. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $373.88. The firm has a market cap of $18.40 billion, a P/E ratio of 42.91, a PEG ratio of 1.42 and a beta of 1.30.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating 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 business had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. During the same quarter in the prior year, the business earned $1.66 earnings per share. Carpenter Technology’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Tuesday, January 27th will be 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 is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio is 9.29%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price for the company in a research report on Thursday, November 13th. TD Cowen reissued a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. JPMorgan Chase & Co. raised 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. BTIG Research upped their target price on Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $373.43.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, COO Brian J. Malloy sold 43,688 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the completion of the sale, the chief operating officer directly owned 78,875 shares in the company, valued at $24,013,493.75. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the sale, the vice president owned 9,594 shares in the company, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 79,358 shares of company stock worth $24,254,008. Insiders own 2.90% of the company’s stock.

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.