Carpenter Technology Corporation $CRS Holdings Lifted by Osaic Holdings Inc.

Osaic Holdings Inc. grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 27.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,257 shares of the basic materials company’s stock after buying an additional 5,023 shares during the period. Osaic Holdings Inc.’s holdings in Carpenter Technology were worth $6,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRS. American Trust acquired a new stake in Carpenter Technology in the 2nd quarter valued at approximately $475,000. Orion Porfolio Solutions LLC grew its stake in shares of Carpenter Technology by 13.7% in the second quarter. Orion Porfolio Solutions LLC now owns 1,530 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 184 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Carpenter Technology by 12.6% during the second quarter. Thrivent Financial for Lutherans now owns 13,188 shares of the basic materials company’s stock valued at $3,644,000 after purchasing an additional 1,477 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Carpenter Technology during the second quarter valued at $252,000. Finally, State of Wyoming raised its stake in shares of Carpenter Technology by 237.7% during the second quarter. State of Wyoming now owns 2,205 shares of the basic materials company’s stock valued at $609,000 after purchasing an additional 1,552 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carpenter Technology

In other Carpenter Technology 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 transaction, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. This trade represents a 28.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian J. Malloy sold 43,688 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the sale, the chief operating officer owned 78,875 shares in the company, valued at $24,013,493.75. This represents a 35.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,358 shares of company stock worth $24,254,008 in the last three months. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Trading Up 1.5%

Shares of NYSE:CRS opened at $332.15 on Tuesday. 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 stock has a market capitalization of $16.55 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 1.37 and a beta of 1.31. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $342.11. The company has a 50 day moving average price of $306.97 and a 200 day moving average price of $273.57.

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

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Tuesday, October 21st were given a $0.20 dividend. The ex-dividend date was Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 9.78%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. TD Cowen raised their price objective on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research note on Thursday, November 13th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.