Jackson Creek Investment Advisors LLC Trims Stock Position in Carpenter Technology Corporation $CRS

Jackson Creek Investment Advisors LLC decreased its stake in Carpenter Technology Corporation (NYSE:CRS) by 29.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,825 shares of the basic materials company’s stock after selling 2,062 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Carpenter Technology were worth $1,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CRS. Woodline Partners LP purchased a new stake in Carpenter Technology in the first quarter valued at $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Carpenter Technology by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock worth $18,985,000 after purchasing an additional 1,701 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Carpenter Technology by 7.3% in the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 314 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $288,000. Finally, SteelPeak Wealth LLC boosted its position in shares of Carpenter Technology by 36.9% in the 2nd quarter. SteelPeak Wealth LLC now owns 7,664 shares of the basic materials company’s stock valued at $2,118,000 after purchasing an additional 2,065 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRS shares. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research note on Thursday, November 13th. Finally, Jones Trading started coverage on shares of Carpenter Technology in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective on the stock. Eight equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.43.

Insider Activity

In other news, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president directly owned 9,594 shares of the company’s stock, valued at $3,082,072.50. This trade represents a 28.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian J. Malloy sold 43,688 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total value of $13,300,811.60. Following the completion of the sale, the chief operating officer owned 78,875 shares in the company, valued at approximately $24,013,493.75. This trade represents a 35.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,358 shares of company stock valued at $24,254,008 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $311.20 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The business has a 50 day simple moving average of $324.51 and a 200-day simple moving average of $287.07. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $355.00. The stock has a market capitalization of $15.50 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.13. The company had revenue of $589.10 million for the quarter, compared to analysts’ expectations of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. Carpenter Technology’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. Equities analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s payout ratio is 9.29%.

Carpenter Technology Company 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.