Advisors Asset Management Inc. Purchases 1,722 Shares of Carpenter Technology Corporation $CRS

Advisors Asset Management Inc. lifted its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,766 shares of the basic materials company’s stock after purchasing an additional 1,722 shares during the period. Advisors Asset Management Inc.’s holdings in Carpenter Technology were worth $7,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc lifted its holdings in Carpenter Technology by 3.9% in 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 during the period. ANB Bank raised its stake in shares of Carpenter Technology by 3.3% in 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 last quarter. Panagora Asset Management Inc. lifted its stake in Carpenter Technology by 3.0% during the 2nd 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. Independent Advisor Alliance lifted its position in Carpenter Technology by 0.6% during the third quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company’s stock valued at $1,639,000 after purchasing an additional 43 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Carpenter Technology by 15.3% during the 3rd quarter. Versant Capital Management Inc now owns 376 shares of the basic materials company’s stock valued at $92,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Activity

In related news, COO Brian J. Malloy sold 43,688 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Elizabeth A. Socci sold 3,900 shares of Carpenter Technology stock in a transaction dated Wednesday, November 26th. The stock was 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 owned 9,594 shares in the company, valued at approximately $3,082,072.50. The trade was a 28.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 79,358 shares of company stock valued at $24,254,008. Insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 2.6%

Carpenter Technology stock opened at $369.45 on Thursday. The firm has a market cap of $18.40 billion, a PE ratio of 42.91, a P/E/G ratio of 1.42 and a beta of 1.30. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $329.94 and its two-hundred day simple moving average is $290.76. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $373.88.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The company had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.Carpenter Technology’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. Analysts anticipate that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s payout ratio is currently 9.29%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRS. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective on the stock in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Jones Trading started coverage on Carpenter Technology in a report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price target for the company. Finally, BTIG Research lifted their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $373.43.

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.