903 Shares in Carpenter Technology Corporation $CRS Bought by Banque Transatlantique SA

Banque Transatlantique SA bought a new position in Carpenter Technology Corporation (NYSE:CRS) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 903 shares of the basic materials company’s stock, valued at approximately $285,000.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its position in shares of Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 32 shares during the last quarter. Abel Hall LLC increased its holdings in shares of Carpenter Technology by 3.2% in the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 32 shares during the period. Brown Miller Wealth Management LLC lifted its position in Carpenter Technology by 2.4% in the 4th quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Carpenter Technology by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after purchasing an additional 34 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in Carpenter Technology by 17.9% during the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 36 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRS has been the subject of several recent analyst reports. Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. TD Cowen lifted their price target on Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Susquehanna boosted their price objective on Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th. KeyCorp increased their price objective on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their target price on Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $458.62.

Insiders Place Their Bets

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the transaction, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Up 1.8%

CRS stock opened at $585.78 on Friday. The firm’s 50-day moving average is $460.51 and its two-hundred day moving average is $391.55. The company has a market capitalization of $29.11 billion, a price-to-earnings ratio of 61.66, a price-to-earnings-growth ratio of 1.98 and a beta of 1.25. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $593.18. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. During the same period last year, the firm posted $1.88 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Carpenter Technology Corporation will post 10.56 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is 8.42%.

About Carpenter Technology

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.