Carpenter Technology Corporation $CRS Shares Bought by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC lifted its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 475.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,625 shares of the basic materials company’s stock after purchasing an additional 13,735 shares during the quarter. Carpenter Technology comprises about 0.8% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 25th biggest position. Strengthening Families & Communities LLC’s holdings in Carpenter Technology were worth $3,835,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CRS. Allspring Global Investments Holdings LLC boosted its stake in Carpenter Technology by 15.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock worth $138,328,000 after buying an additional 71,872 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Carpenter Technology during the 2nd quarter worth about $134,790,000. Raymond James Financial Inc. boosted its position in shares of Carpenter Technology by 244.3% in the second quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock worth $113,669,000 after acquiring an additional 291,829 shares during the last quarter. Franklin Resources Inc. grew its holdings in Carpenter Technology by 10.9% in the second quarter. Franklin Resources Inc. now owns 393,039 shares of the basic materials company’s stock valued at $108,628,000 after purchasing an additional 38,699 shares during the period. Finally, TOMS Capital Investment Management LP purchased a new stake in Carpenter Technology in the second quarter valued at approximately $106,683,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

CRS opened at $311.20 on Tuesday. The company has a fifty day simple moving average of $324.51 and a 200 day simple moving average of $287.07. 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 cap of $15.50 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 1.33 and a beta of 1.30. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $355.00.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.20 by $0.13. The business had revenue of $589.10 million for the quarter, compared to analysts’ expectations of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Equities research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

Insider Activity

In other Carpenter Technology news, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the sale, the vice president owned 9,594 shares in the company, valued at $3,082,072.50. This represents a 28.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian J. Malloy sold 4,130 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the completion of the sale, the chief operating officer owned 78,875 shares of the company’s stock, valued at $23,940,140. This trade represents a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 79,358 shares of company stock valued at $24,254,008. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CRS shares. 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 report on Thursday, November 13th. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, BTIG Research lifted their price objective on Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $373.43.

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.