Union Bancaire Privee UBP SA Buys New Shares in Carpenter Technology Corporation $CRS

Union Bancaire Privee UBP SA bought a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,730 shares of the basic materials company’s stock, valued at approximately $6,212,000.

Several other large investors have also recently added to or reduced their stakes in CRS. State Street Corp grew its holdings in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock worth $514,687,000 after purchasing an additional 192,533 shares in the last quarter. SurgoCap Partners LP raised its stake in shares of Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after purchasing an additional 272,896 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Carpenter Technology by 20.5% in the third quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock worth $154,840,000 after purchasing an additional 107,552 shares during the period. Qube Research & Technologies Ltd lifted its position in Carpenter Technology by 111.6% in the third quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock worth $151,731,000 after purchasing an additional 325,919 shares during the period. Finally, Barclays PLC boosted its stake in Carpenter Technology by 5.8% during the third quarter. Barclays PLC now owns 591,981 shares of the basic materials company’s stock worth $145,355,000 after buying an additional 32,645 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Carpenter Technology Stock Down 4.1%

CRS opened at $362.49 on Friday. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 1.48 and a beta of 1.22. 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 firm’s 50-day simple moving average is $364.25 and its 200-day simple moving average is $316.06. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $412.31.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results 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. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

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. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s dividend payout ratio is currently 9.29%.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president owned 73,739 shares in the company, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the business’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 completion of the transaction, the director directly owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,300 shares of company stock worth $8,664,044. 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.