Assenagon Asset Management S.A. Purchases New Holdings in Carpenter Technology Corporation $CRS

Assenagon Asset Management S.A. acquired a new position in Carpenter Technology Corporation (NYSE:CRS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,000 shares of the basic materials company’s stock, valued at approximately $2,834,000.

Several other large investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in Carpenter Technology in the 2nd quarter worth about $28,000. Armstrong Advisory Group Inc. grew its stake in Carpenter Technology by 57.3% during the 4th 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 purchased a new position in Carpenter Technology during the 3rd quarter valued at about $41,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 60 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Carpenter Technology in the second quarter worth approximately $43,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carpenter Technology

In related news, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction 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 approximately $85,897,206.72. The trade was a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James D. Dee sold 15,800 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president owned 73,739 shares of the company’s stock, valued at $28,889,465.42. This represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRS has been the subject of several research reports. Susquehanna started coverage on shares of Carpenter Technology in a report on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price target for the company. KeyCorp started coverage on shares of Carpenter Technology in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $380.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. BTIG Research boosted 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, Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $385.50.

Carpenter Technology Stock Down 1.4%

Shares of Carpenter Technology stock opened at $371.69 on Tuesday. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 43.17, a P/E/G ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $412.31. The stock has a 50-day simple moving average of $371.04 and a 200-day simple moving average of $323.08.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping 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 return on equity of 23.63% and a net margin of 14.77%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. On average, equities research analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

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

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.