Carpenter Technology Corporation $CRS Stock Holdings Trimmed by Overbrook Management Corp

Overbrook Management Corp lowered its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,568 shares of the basic materials company’s stock after selling 1,686 shares during the period. Carpenter Technology comprises about 2.1% of Overbrook Management Corp’s holdings, making the stock its 15th largest holding. Overbrook Management Corp owned approximately 0.07% of Carpenter Technology worth $13,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC raised its holdings in shares of Carpenter Technology by 1.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock valued at $708,000 after buying an additional 19 shares in the last quarter. Essential Partners LLC raised its stake in shares of Carpenter Technology by 9.9% during the first quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 34 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. TrueWealth Advisors LLC lifted its holdings in shares of Carpenter Technology by 1.3% in the 2nd quarter. TrueWealth Advisors LLC now owns 2,789 shares of the basic materials company’s stock worth $1,720,000 after acquiring an additional 36 shares during the last quarter. Finally, Severin Investments LLC lifted its holdings in shares of Carpenter Technology by 1.8% in the 1st quarter. Severin Investments LLC now owns 2,190 shares of the basic materials company’s stock worth $863,000 after acquiring an additional 39 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carpenter Technology

In other news, Director Steven Karol sold 3,275 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the transaction, the director directly owned 177,000 shares of the company’s stock, valued at approximately $83,912,160. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the transaction, the director owned 1,953 shares of the company’s stock, valued at approximately $963,121.95. This represents a 18.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 112,996 shares of company stock worth $54,644,436. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Trading Down 1.1%

Shares of NYSE CRS traded down $4.21 during mid-day trading on Thursday, hitting $386.96. The stock had a trading volume of 688,066 shares, compared to its average volume of 767,734. The firm has a market cap of $19.18 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. Carpenter Technology Corporation has a 1 year low of $233.77 and a 1 year high of $625.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The business has a 50 day moving average price of $466.62 and a two-hundred day moving average price of $481.39.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. The firm had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 earnings per share. On average, equities analysts anticipate that Carpenter Technology Corporation will post 13.28 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th were issued a $0.20 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 7.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Susquehanna lowered their price target on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research note on Friday, July 31st. KeyCorp reduced their price objective on Carpenter Technology from $608.00 to $465.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen lifted their price objective on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $545.62.

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of specialty metals and engineered products for applications that require high performance, durability, and resistance to extreme conditions. Founded in 1889, the company produces stainless steels, nickel- and cobalt-based alloys, titanium alloys, and other specialty materials.

Its product offerings include specialty wire, rod, bar, strip, billet, and powder, as well as precision-engineered components and additive-manufacturing materials.