Ethic Inc. Increases Stock Holdings in Carpenter Technology Corporation $CRS

Ethic Inc. boosted its stake in Carpenter Technology Corporation (NYSE:CRS) by 48.7% in the fourth quarter, Holdings Channel reports. The fund owned 5,853 shares of the basic materials company’s stock after buying an additional 1,917 shares during the quarter. Ethic Inc.’s holdings in Carpenter Technology were worth $1,843,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Geneos Wealth Management Inc. acquired a new stake in Carpenter Technology during the 2nd quarter valued at approximately $28,000. Armstrong Advisory Group Inc. raised its holdings in shares of Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares during the period. Spire Wealth Management grew its holdings in shares of Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 84 shares during the last quarter. Headlands Technologies LLC acquired a new position in Carpenter Technology during the 2nd quarter valued at approximately $43,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Carpenter Technology during the second quarter valued at $45,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP James D. Dee sold 15,800 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was 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 directly owned 73,739 shares in the company, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director owned 750 shares in the company, valued at $317,895. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,865 shares of company stock valued at $14,196,607 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Stock Down 1.0%

CRS stock opened at $424.58 on Wednesday. Carpenter Technology Corporation has a twelve month low of $216.00 and a twelve month high of $475.69. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $409.83 and its 200 day simple moving average is $360.14. The company has a market cap of $21.10 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 EPS. On average, research analysts anticipate that Carpenter Technology Corporation will post 10.43 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

Analyst Ratings Changes

CRS has been the subject of a number of recent analyst reports. Susquehanna increased their price objective on Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Carpenter Technology from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Wells Fargo & Company raised their target price on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, KeyCorp raised their target price on shares of Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $438.78.

Carpenter Technology 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.