Carpenter Technology Corporation $CRS Position Boosted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its holdings in Carpenter Technology Corporation (NYSE:CRS) by 220.1% during the third quarter, Holdings Channel reports. The firm owned 16,902 shares of the basic materials company’s stock after purchasing an additional 11,621 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Carpenter Technology were worth $4,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in Carpenter Technology by 15.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock worth $138,328,000 after buying an additional 71,872 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Carpenter Technology during the 2nd quarter valued at $134,790,000. Raymond James Financial Inc. boosted its stake in shares of Carpenter Technology by 244.3% during the 2nd quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock worth $113,669,000 after acquiring an additional 291,829 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Carpenter Technology by 10.9% in the 2nd quarter. Franklin Resources Inc. now owns 393,039 shares of the basic materials company’s stock worth $108,628,000 after acquiring an additional 38,699 shares during the last quarter. Finally, TOMS Capital Investment Management LP acquired a new stake in shares of Carpenter Technology during the second quarter worth $106,683,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Shares of CRS opened at $336.21 on Monday. The business’s 50-day moving average is $323.40 and its 200-day moving average is $285.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 41.10, a P/E/G ratio of 1.40 and a beta of 1.29. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $348.99.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm had revenue of $733.70 million for the quarter, compared to the consensus estimate of $741.18 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Tuesday, January 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRS shares. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research report on Thursday, November 13th. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Jones Trading started coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price on the stock. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $371.14.

Insiders Place Their Bets

In other Carpenter Technology news, COO Brian J. Malloy sold 4,130 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $303.52, for a total value of $1,253,537.60. Following the transaction, the chief operating officer owned 78,875 shares in the company, valued at $23,940,140. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the transaction, the vice president directly owned 9,594 shares in the company, valued at approximately $3,082,072.50. The trade was a 28.90% 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 79,358 shares of company stock valued at $24,254,008. Insiders own 2.90% of the company’s stock.

About Carpenter Technology

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.