Carpenter Technology Corporation $CRS Shares Acquired by Arvin Capital Management LP

Arvin Capital Management LP boosted its position in Carpenter Technology Corporation (NYSE:CRS) by 57.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,700 shares of the basic materials company’s stock after acquiring an additional 37,121 shares during the quarter. Carpenter Technology accounts for 4.5% of Arvin Capital Management LP’s investment portfolio, making the stock its 7th biggest position. Arvin Capital Management LP owned 0.20% of Carpenter Technology worth $24,971,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CRS. Clearstead Advisors LLC lifted its stake in shares of Carpenter Technology by 17.9% in the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 36 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in Carpenter Technology by 3.9% in the third quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock valued at $239,000 after buying an additional 37 shares during the period. ANB Bank lifted its position in Carpenter Technology by 3.3% during the second quarter. ANB Bank now owns 1,304 shares of the basic materials company’s stock valued at $360,000 after buying an additional 42 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Carpenter Technology by 3.0% during the second quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock valued at $404,000 after buying an additional 43 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in Carpenter Technology by 0.6% during the third quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company’s stock worth $1,639,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 1.6%

Shares of NYSE:CRS opened at $402.00 on Wednesday. The firm has a market cap of $20.02 billion, a PE ratio of 46.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22. The company has a fifty day simple moving average of $349.46 and a 200 day simple moving average of $303.88. 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 Corporation has a 12-month low of $138.61 and a 12-month high of $410.10.

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 analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. On average, equities research analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Insider Activity at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 73,739 shares of the company’s stock, valued at $28,889,465.42. This trade represents a 17.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director owned 225,381 shares of the company’s stock, valued at $85,897,206.72. This trade represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 97,758 shares of company stock valued at $31,665,177 over the last three months. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

CRS has been the topic of a number of research reports. BTIG Research raised their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. JPMorgan Chase & Co. boosted their price objective 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 reiterated a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. Finally, Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $385.50.

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.