Carpenter Technology Corporation $CRS Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its position in Carpenter Technology Corporation (NYSE:CRS) by 1,626.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,796 shares of the basic materials company’s stock after buying an additional 1,692 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Carpenter Technology were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc grew its position in shares of Carpenter Technology by 3.9% during the third quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock worth $239,000 after buying an additional 37 shares in the last quarter. ANB Bank increased 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 in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Carpenter Technology by 3.0% in the second quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock valued at $404,000 after acquiring an additional 43 shares during the period. Versant Capital Management Inc boosted its stake in Carpenter Technology by 15.3% during the 3rd quarter. Versant Capital Management Inc now owns 376 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 50 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Carpenter Technology by 7.5% during the third quarter. Covestor Ltd now owns 804 shares of the basic materials company’s stock worth $198,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the subject of several recent analyst reports. KeyCorp upgraded 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. Jones Trading began coverage on Carpenter Technology in a report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price target on the stock. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on shares of Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $371.14.

Insider Buying and Selling at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 3,900 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the sale, the vice president owned 9,594 shares of the company’s stock, valued at $3,082,072.50. This represents a 28.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian J. Malloy sold 4,130 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total value of $1,253,537.60. Following the transaction, the chief operating officer owned 78,875 shares of the company’s stock, valued at approximately $23,940,140. The trade was a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 79,358 shares of company stock valued at $24,254,008. 2.90% of the stock is owned by insiders.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $347.14 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $355.00. The firm’s fifty day moving average price is $324.21 and its 200 day moving average price is $286.04. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 1.46 and a beta of 1.29.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s payout ratio is 9.78%.

Carpenter Technology Company 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.