Counterpoint Mutual Funds LLC Makes New $363,000 Investment in Carpenter Technology Corporation $CRS

Counterpoint Mutual Funds LLC acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,478 shares of the basic materials company’s stock, valued at approximately $363,000.

A number of other hedge funds have also made changes to their positions in CRS. Geneos Wealth Management Inc. acquired a new stake in Carpenter Technology in the second quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in shares of Carpenter Technology in the third quarter valued at $41,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Carpenter Technology by 54.1% in 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 during the period. Headlands Technologies LLC bought a new position in Carpenter Technology during the second quarter valued at about $43,000. Finally, Rakuten Securities Inc. acquired a new position in Carpenter Technology during the second quarter worth about $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insiders Place Their Bets

In other Carpenter Technology news, Director Steven E. Karol sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was 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 of the company’s stock, valued at $85,897,206.72. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian J. Malloy sold 4,130 shares of Carpenter Technology stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the sale, the chief operating officer owned 78,875 shares of the company’s stock, valued at approximately $23,940,140. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 81,958 shares of company stock valued at $25,475,053. Insiders own 2.90% of the company’s stock.

Carpenter Technology Price Performance

NYSE CRS opened at $395.86 on Thursday. 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 firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The company has a 50 day simple moving average of $343.60 and a 200-day simple moving average of $299.23. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $399.20.

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

Carpenter Technology Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. BTIG Research raised their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a report on Thursday, November 13th. TD Cowen reissued a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Finally, JPMorgan Chase & Co. upped their target price on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.43.

Carpenter Technology Company 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.