3,236 Shares in Carpenter Technology Corporation $CRS Bought by Twin Capital Management Inc.

Twin Capital Management Inc. acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 3,236 shares of the basic materials company’s stock, valued at approximately $795,000.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Carpenter Technology by 15.0% during the third 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 period. William Blair Investment Management LLC purchased a new stake in Carpenter Technology during the 2nd quarter valued at approximately $134,790,000. Raymond James Financial Inc. lifted its position in Carpenter Technology by 244.3% during the 2nd 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 period. Franklin Resources Inc. grew its stake in shares of Carpenter Technology by 10.9% in the 2nd 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 last quarter. Finally, TOMS Capital Investment Management LP acquired a new position in shares of 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.

Insider Activity at Carpenter Technology

In related 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 value of $1,252,875.00. Following the sale, the vice president owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This represents a 28.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian J. Malloy sold 43,688 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total value of $13,300,811.60. Following the sale, the chief operating officer owned 78,875 shares in the company, valued at approximately $24,013,493.75. This trade represents a 35.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,358 shares of company stock valued at $24,254,008 over the last 90 days. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. BTIG Research increased their price target on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Jones Trading initiated coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $373.43.

Carpenter Technology Trading Up 4.9%

NYSE:CRS opened at $365.85 on Friday. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $370.59. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $326.86 and a 200-day simple moving average of $288.87. The company has a market capitalization of $18.22 billion, a PE ratio of 42.49, a price-to-earnings-growth ratio of 1.44 and a beta of 1.30.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $589.10 million for the quarter, compared to analysts’ expectations of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. On average, equities research analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

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

Carpenter Technology Company 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.