Carpenter Technology Corporation $CRS Holdings Boosted by Dorsey Wright & Associates

Dorsey Wright & Associates increased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,012 shares of the basic materials company’s stock after buying an additional 1,216 shares during the quarter. Carpenter Technology comprises 2.7% of Dorsey Wright & Associates’ investment portfolio, making the stock its 8th biggest holding. Dorsey Wright & Associates owned about 0.08% of Carpenter Technology worth $12,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Advisory Services Inc. grew its holdings 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 buying an additional 32 shares during the last quarter. Abel Hall LLC grew its holdings in Carpenter Technology by 3.2% during the fourth 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 increased its holdings in shares of 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 in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Carpenter Technology by 0.3% in the fourth 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 buying an additional 34 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in Carpenter Technology by 17.9% in 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 in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRS. BTIG Research raised their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. TD Cowen boosted their target price on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $458.62.

Insider Transactions at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the sale, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 1.8%

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

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

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.1%. Carpenter Technology’s dividend payout ratio (DPR) 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.