Carpenter Technology Corporation $CRS Position Lessened by Calamos Advisors LLC

Calamos Advisors LLC lowered its position in Carpenter Technology Corporation (NYSE:CRS) by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,096 shares of the basic materials company’s stock after selling 3,302 shares during the quarter. Calamos Advisors LLC’s holdings in Carpenter Technology were worth $5,162,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after purchasing an additional 192,533 shares in the last quarter. Invesco Ltd. lifted its position in shares of Carpenter Technology by 18.8% in the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after buying an additional 327,302 shares during the last quarter. Egerton Capital UK LLP boosted its stake in shares of Carpenter Technology by 13.0% during the 4th quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after acquiring an additional 178,679 shares in the last quarter. SurgoCap Partners LP increased its holdings in shares of Carpenter Technology by 29.5% during the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after acquiring an additional 272,896 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Carpenter Technology by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after acquiring an additional 78,588 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $576.27 on Thursday. The business’s fifty day moving average price is $520.30 and its two-hundred day moving average price is $427.97. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 60.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results 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 firm had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same period last year, the firm posted $1.88 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Carpenter Technology Corporation will post 10.57 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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

Insider Activity

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on CRS. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Wells Fargo & Company boosted their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. 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 research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. Finally, KeyCorp boosted their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $556.75.

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.