Intech Investment Management LLC Buys 47,265 Shares of Carpenter Technology Corporation $CRS

Intech Investment Management LLC increased its stake in Carpenter Technology Corporation (NYSE:CRS) by 504.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,641 shares of the basic materials company’s stock after buying an additional 47,265 shares during the quarter. Intech Investment Management LLC owned approximately 0.11% of Carpenter Technology worth $13,908,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC raised its holdings in shares of Carpenter Technology by 77.9% in the 3rd quarter. WCM Investment Management LLC now owns 357,498 shares of the basic materials company’s stock valued at $86,261,000 after purchasing an additional 156,554 shares during the period. Prudential Financial Inc. grew its holdings in Carpenter Technology by 43.3% during the second quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock worth $15,500,000 after purchasing an additional 16,954 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Carpenter Technology during the third quarter worth approximately $1,373,000. Whitaker Myers Wealth Managers LTD. bought a new stake in Carpenter Technology in the third quarter valued at approximately $797,000. Finally, Schroder Investment Management Group lifted its position in shares of Carpenter Technology by 11.1% in the second 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 during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 0.6%

CRS stock opened at $398.06 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of 46.23, a PEG ratio of 1.55 and a beta of 1.30. The business’s fifty day moving average price is $345.15 and its two-hundred day moving average price is $299.92. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $403.81.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The company had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $733.76 million. During the same quarter in the previous year, the business posted $1.66 earnings per share. Carpenter Technology’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be given 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 is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio is presently 9.29%.

Insider Transactions at Carpenter Technology

In related news, Director Steven E. Karol sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director owned 225,381 shares of the company’s stock, valued at $85,897,206.72. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brian J. Malloy sold 43,688 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $304.45, for a total value of $13,300,811.60. Following the transaction, 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. Over the last ninety days, insiders have sold 97,758 shares of company stock valued at $31,665,177. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research report on Thursday, November 13th. BTIG Research upped their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, JPMorgan Chase & Co. lifted 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. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $373.43.

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.