Atria Investments Inc Takes Position in Carpenter Technology Corporation $CRS

Atria Investments Inc acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 2nd quarter, Holdings Channel reports. The fund acquired 877 shares of the basic materials company’s stock, valued at approximately $242,000.

A number of other hedge funds have also modified their holdings of the company. Hancock Whitney Corp bought a new position in shares of Carpenter Technology during the 1st quarter worth approximately $819,000. Y Intercept Hong Kong Ltd acquired a new position in Carpenter Technology during the second quarter worth $1,460,000. Graham Capital Management L.P. grew its position in Carpenter Technology by 175.8% in the first quarter. Graham Capital Management L.P. now owns 3,643 shares of the basic materials company’s stock valued at $660,000 after purchasing an additional 2,322 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in Carpenter Technology in the first quarter valued at $324,000. Finally, Amundi increased its stake in Carpenter Technology by 344,580.0% in the 1st quarter. Amundi now owns 51,702 shares of the basic materials company’s stock valued at $8,610,000 after buying an additional 51,687 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Down 2.2%

Carpenter Technology stock opened at $324.69 on Friday. The stock has a 50-day simple moving average of $267.98 and a 200 day simple moving average of $255.40. The stock has a market capitalization of $16.18 billion, a P/E ratio of 39.69, a PEG ratio of 1.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $342.11.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company had revenue of $733.70 million during the quarter, compared to analysts’ expectations of $741.18 million. During the same period last year, the firm posted $1.73 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be given 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, October 21st. Carpenter Technology’s payout ratio is 9.78%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRS. Jones Trading assumed coverage on shares of Carpenter Technology in a research note on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price objective for the company. Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. TD Cowen raised their price target on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Friday, October 24th. Finally, BTIG Research increased their price objective on Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a report on Monday, October 27th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $371.14.

Insider Buying and Selling at Carpenter Technology

In other news, CEO Tony R. Thene sold 19,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $244.99, for a total value of $4,654,810.00. Following the transaction, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at $131,074,304.81. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. Karol sold 3,433 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the sale, the director owned 180,000 shares of the company’s stock, valued at approximately $44,240,400. This represents a 1.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,124 shares of company stock worth $6,890,250 over the last ninety days. 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.