Barclays PLC Acquires 32,645 Shares of Carpenter Technology Corporation $CRS

Barclays PLC boosted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 591,981 shares of the basic materials company’s stock after buying an additional 32,645 shares during the period. Barclays PLC’s holdings in Carpenter Technology were worth $145,355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRS. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the 2nd quarter worth $28,000. Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $43,000. Rakuten Securities Inc. acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $45,000. Root Financial Partners LLC bought a new stake in shares of Carpenter Technology in the third quarter valued at about $41,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Carpenter Technology by 54.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRS shares. Susquehanna assumed coverage on shares of Carpenter Technology in a research note on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price target for the company. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. BTIG Research increased their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Finally, KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a research note on Thursday, November 13th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $385.50.

Insider Transactions at Carpenter Technology

In other news, COO Brian J. Malloy sold 43,688 shares of the firm’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 transaction, the chief operating officer directly owned 78,875 shares of the company’s stock, valued at approximately $24,013,493.75. This trade represents a 35.65% 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 hyperlink. Also, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the completion of the sale, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 97,758 shares of company stock valued at $31,665,177. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Stock Down 2.2%

CRS stock opened at $386.39 on Friday. 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 firm has a market capitalization of $19.25 billion, a PE ratio of 44.88, a PEG ratio of 1.52 and a beta of 1.22. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $412.31. The business’s 50 day simple moving average is $353.26 and its 200 day simple moving average is $306.70.

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, beating the consensus estimate of $2.20 by $0.13. The firm had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 EPS. As a group, research analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology’s dividend payout ratio is presently 9.29%.

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.