Regency Capital Management Inc. DE Purchases New Shares in Carpenter Technology Corporation $CRS

Regency Capital Management Inc. DE acquired a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,736 shares of the basic materials company’s stock, valued at approximately $2,261,000.

Other institutional investors have also added to or reduced their stakes in the company. Dorsey Wright & Associates purchased a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $9,280,000. Covestor Ltd lifted its stake in shares of Carpenter Technology by 334.3% in the 4th quarter. Covestor Ltd now owns 3,492 shares of the basic materials company’s stock valued at $1,099,000 after purchasing an additional 2,688 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Carpenter Technology by 127.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 5,141 shares of the basic materials company’s stock valued at $1,619,000 after purchasing an additional 2,883 shares during the period. Renaissance Investment Group LLC bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $8,141,000. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $4,062,000. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRS. Wells Fargo & Company increased 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. Susquehanna boosted their target price on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a report on Thursday, July 9th. BTIG Research upped their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, TD Cowen boosted their price objective on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $556.75.

Insider Activity

In related news, VP Marshall D. Akins sold 11,815 shares of the firm’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 transaction of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the sale, the director directly owned 750 shares of the company’s stock, valued at $317,895. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Trading Down 0.1%

NYSE CRS opened at $576.27 on Thursday. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98. The stock has a market cap of $28.63 billion, a P/E ratio of 60.66, a P/E/G ratio of 1.68 and a beta of 1.22. The stock’s fifty day moving average price is $520.30 and its 200-day moving average price is $427.97. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

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

Carpenter Technology Dividend Announcement

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

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.