Calamos Advisors LLC Has $5.16 Million Stake in Carpenter Technology Corporation $CRS

Calamos Advisors LLC reduced its position in Carpenter Technology Corporation (NYSE:CRS) by 20.1% in the 1st quarter, HoldingsChannel reports. The firm owned 13,096 shares of the basic materials company’s stock after selling 3,302 shares during the period. Calamos Advisors LLC’s holdings in Carpenter Technology were worth $5,162,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sands Capital Management LLC bought a new stake in Carpenter Technology in the fourth quarter valued at approximately $195,731,000. Norges Bank acquired a new position in shares of Carpenter Technology during the 4th quarter worth approximately $195,254,000. TOMS Capital Investment Management LP acquired a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $106,683,000. UBS Group AG increased its holdings in shares of Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock worth $190,951,000 after acquiring an additional 382,865 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Carpenter Technology by 18.8% in the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock valued at $652,241,000 after acquiring an additional 327,302 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 0.1%

Shares of Carpenter Technology stock opened at $576.27 on Thursday. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $625.98. The company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 60.66, a PEG ratio of 1.68 and a beta of 1.22. The firm’s 50-day moving average price is $520.30 and its two-hundred day moving average price is $427.97.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The firm had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Carpenter Technology Corporation will post 10.57 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.1%. Carpenter Technology’s dividend payout ratio is currently 8.42%.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares in the company, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anastasios John Hart sold 750 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at $317,895. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRS. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research note on Tuesday. KeyCorp upped their price target on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. TD Cowen increased their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a research report on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price objective on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $556.75.

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.