Severin Investments LLC Takes $403,000 Position in Carpenter Technology Corporation $CRS

Severin Investments LLC purchased a new position in Carpenter Technology Corporation (NYSE:CRS) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,642 shares of the basic materials company’s stock, valued at approximately $403,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Woodline Partners LP bought a new stake in Carpenter Technology during the first quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock worth $18,985,000 after purchasing an additional 1,701 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Carpenter Technology by 7.3% during the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after buying an additional 314 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Carpenter Technology by 6.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,615 shares of the basic materials company’s stock valued at $1,828,000 after buying an additional 388 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $209,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BTIG Research lifted their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Susquehanna started coverage on Carpenter Technology in a report on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $385.50.

Carpenter Technology Stock Performance

CRS opened at $386.53 on Thursday. The company has a market cap of $19.25 billion, a P/E ratio of 44.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. 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 firm’s 50-day moving average price is $362.44 and its 200-day moving average price is $314.78. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $412.31.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The company had revenue of $728.00 million during 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%. Carpenter Technology’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business earned $1.66 EPS. As a group, equities 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. Stockholders of record on Tuesday, January 27th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology’s payout ratio is presently 9.29%.

Insiders Place Their Bets

In other news, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director directly owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James D. Dee sold 15,800 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the transaction, the senior vice president directly owned 73,739 shares in the company, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,300 shares of company stock worth $8,664,044 over the last three months. Corporate insiders own 2.90% of the company’s stock.

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.