Carpenter Technology Corporation $CRS Shares Acquired by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lifted its stake in Carpenter Technology Corporation (NYSE:CRS) by 27.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,715 shares of the basic materials company’s stock after buying an additional 1,680 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Carpenter Technology were worth $1,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Advisors LLC raised its position in Carpenter Technology by 17.9% during the third quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 36 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its position in Carpenter Technology by 3.9% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 37 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Carpenter Technology by 3.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock worth $404,000 after purchasing an additional 43 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of Carpenter Technology by 0.6% during the 3rd quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company’s stock worth $1,639,000 after purchasing an additional 43 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Carpenter Technology by 15.3% during the 3rd quarter. Versant Capital Management Inc now owns 376 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 50 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carpenter Technology

In related news, SVP James D. Dee sold 15,800 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the completion of the transaction, the senior vice president owned 73,739 shares in the company, valued at $28,889,465.42. This represents a 17.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Karol sold 3,500 shares of the company’s stock in a transaction dated 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 transaction, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 22,300 shares of company stock worth $8,664,044. Insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Up 3.6%

Carpenter Technology stock opened at $374.23 on Tuesday. 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 $18.64 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The business has a 50 day simple moving average of $360.61 and a 200-day simple moving average of $313.29. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $412.31.

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 return on equity of 23.63% and a net margin of 14.77%.The firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. During the same quarter last year, the firm posted $1.66 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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

Analyst Ratings Changes

CRS has been the subject of several analyst reports. Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Susquehanna assumed coverage on shares of Carpenter Technology in a report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Finally, BTIG Research increased 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. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus price target of $385.50.

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.