Capital Fund Management S.A. Sells 17,094 Shares of Carpenter Technology Corporation $CRS

Capital Fund Management S.A. decreased its position in Carpenter Technology Corporation (NYSE:CRS) by 56.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,378 shares of the basic materials company’s stock after selling 17,094 shares during the period. Capital Fund Management S.A.’s holdings in Carpenter Technology were worth $3,697,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Radnor Capital Management LLC lifted its holdings in Carpenter Technology by 3.3% during the second quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company’s stock worth $343,000 after acquiring an additional 40 shares in the last quarter. ANB Bank raised its position in shares of Carpenter Technology by 3.3% during the second quarter. ANB Bank now owns 1,304 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 42 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Carpenter Technology by 1.0% during the 1st quarter. Gabelli Funds LLC now owns 10,600 shares of the basic materials company’s stock valued at $1,921,000 after purchasing an additional 100 shares in the last quarter. Tlwm grew its position in shares of Carpenter Technology by 1.1% in the 2nd quarter. Tlwm now owns 10,274 shares of the basic materials company’s stock valued at $2,840,000 after purchasing an additional 109 shares during the period. Finally, UMB Bank n.a. increased its stake in Carpenter Technology by 24.0% during the 2nd quarter. UMB Bank n.a. now owns 584 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

CRS opened at $312.45 on Wednesday. The business’s 50-day simple moving average is $287.39 and its 200 day simple moving average is $265.69. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $342.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. The firm has a market capitalization of $15.57 billion, a PE ratio of 38.20, a PEG ratio of 1.33 and a beta of 1.31.

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

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, October 21st. Carpenter Technology’s payout ratio is presently 9.78%.

Insider Buying and Selling at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the sale, the vice president directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director owned 180,000 shares of the company’s stock, valued at $44,240,400. The trade was a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRS. Deutsche Bank Aktiengesellschaft set a $425.00 price target on shares of Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. BTIG Research boosted their price objective on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price for the company in a research note on Thursday, November 13th. Zacks Research downgraded Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average target price of $371.14.

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.