Carpenter Technology Corporation $CRS Shares Purchased by Cwm LLC

Cwm LLC raised its holdings in Carpenter Technology Corporation (NYSE:CRS) by 351.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,476 shares of the basic materials company’s stock after acquiring an additional 7,378 shares during the period. Cwm LLC’s holdings in Carpenter Technology were worth $2,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the 2nd quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in Carpenter Technology in the first quarter valued at $31,000. Headlands Technologies LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $43,000. Rakuten Securities Inc. purchased a new stake in Carpenter Technology in the 2nd quarter valued at about $45,000. Finally, MAI Capital Management lifted its position in Carpenter Technology by 118.8% in the second quarter. MAI Capital Management now owns 221 shares of the basic materials company’s stock valued at $61,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $338.71 on Friday. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 1.32 and a beta of 1.29. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $342.11. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $319.75 and a 200-day moving average of $278.18.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $733.70 million for the quarter, compared to analyst estimates of $741.18 million. During the same period last year, the company earned $1.73 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Insider Buying and Selling

In other news, COO Brian J. Malloy sold 4,130 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the completion of the transaction, the chief operating officer directly owned 78,875 shares in the company, valued at approximately $23,940,140. This represents a 4.98% 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, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 79,358 shares of company stock worth $24,254,008 in the last quarter. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. TD Cowen lifted their target price on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 24th. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. Finally, KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research report on Thursday, November 13th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average price target 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.