Machina Capital S.A.S. Purchases New Shares in Carpenter Technology Corporation $CRS

Machina Capital S.A.S. purchased a new position in Carpenter Technology Corporation (NYSE:CRS) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 3,815 shares of the basic materials company’s stock, valued at approximately $937,000.

A number of other large investors also recently added to or reduced their stakes in CRS. Prudential Financial Inc. grew its position in shares of Carpenter Technology by 43.3% in the second quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock valued at $15,500,000 after purchasing an additional 16,954 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Carpenter Technology in the 3rd quarter valued at about $1,373,000. Schroder Investment Management Group lifted its stake in Carpenter Technology by 11.1% in the 2nd quarter. Schroder Investment Management Group now owns 57,625 shares of the basic materials company’s stock valued at $15,926,000 after buying an additional 5,757 shares in the last quarter. Whitaker Myers Wealth Managers LTD. acquired a new stake in Carpenter Technology in the 3rd quarter worth about $797,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Carpenter Technology by 15.0% during 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 in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

NYSE CRS opened at $334.34 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.26 and a current ratio of 4.25. The stock’s fifty day moving average is $325.15 and its two-hundred day moving average is $287.76. The firm has a market capitalization of $16.65 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $355.00.

Carpenter Technology (NYSE:CRS) last posted 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 analyst estimates of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. On average, research analysts anticipate that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s payout ratio is 9.29%.

Analyst Ratings Changes

CRS has been the topic of several research reports. Jones Trading began coverage on Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. BTIG Research lifted their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $373.43.

Insider Activity

In other news, COO Brian J. Malloy sold 43,688 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the sale, the chief operating officer owned 78,875 shares of the company’s stock, valued at approximately $24,013,493.75. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Elizabeth A. Socci sold 3,900 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the transaction, the vice president owned 9,594 shares of the company’s stock, valued at $3,082,072.50. The trade was a 28.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,358 shares of company stock worth $24,254,008 over the last quarter. 2.90% of the stock is currently owned by company insiders.

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.