Corient Private Wealth LLC Takes $409,000 Position in Carpenter Technology Corporation $CRS

Corient Private Wealth LLC purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,298 shares of the basic materials company’s stock, valued at approximately $409,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in Carpenter Technology in the 4th quarter worth $285,000. Pacer Advisors Inc. grew its stake in shares of Carpenter Technology by 30.3% during the fourth quarter. Pacer Advisors Inc. now owns 8,565 shares of the basic materials company’s stock valued at $2,697,000 after acquiring an additional 1,990 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Carpenter Technology during the fourth quarter worth about $2,780,000. Vinland Capital Management Gestora de Recursos LTDA. purchased a new stake in shares of Carpenter Technology during the fourth quarter worth about $152,000. Finally, Dorsey Wright & Associates lifted its stake in shares of Carpenter Technology by 3.2% in the fourth quarter. Dorsey Wright & Associates now owns 39,012 shares of the basic materials company’s stock worth $12,283,000 after acquiring an additional 1,216 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CRS shares. Susquehanna increased their price target on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a report on Thursday, April 30th. KeyCorp upped their target price on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. TD Cowen upped their target price on Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company increased their target price on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $481.75.

Insider Activity at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 of the company’s stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $618.71 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.99. The company’s 50-day simple moving average is $499.42 and its 200-day simple moving average is $415.52. The stock has a market capitalization of $30.74 billion, a price-to-earnings ratio of 65.13, a PEG ratio of 1.75 and a beta of 1.22.

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

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were given a $0.20 dividend. The ex-dividend date 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 presently 8.42%.

Carpenter Technology 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.