Eurizon Capital SGR S.p.A. Takes $604,000 Position in Carpenter Technology Corporation $CRS

Eurizon Capital SGR S.p.A. bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,914 shares of the basic materials company’s stock, valued at approximately $604,000.

Several other hedge funds have also bought and sold shares of the stock. Brown Miller Wealth Management LLC lifted its position in Carpenter Technology by 2.4% during the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Carpenter Technology by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after purchasing an additional 34 shares during the last quarter. Clearstead Advisors LLC lifted its position in Carpenter Technology by 17.9% during the third quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 36 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in Carpenter Technology by 5.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 899 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 45 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Down 0.1%

Shares of NYSE CRS opened at $486.86 on Thursday. The firm’s fifty day moving average is $428.11 and its 200 day moving average is $374.48. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $495.58. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 51.25, a PEG ratio of 1.80 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same period in the prior year, the business posted $1.88 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Carpenter Technology Corporation will post 10.54 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is currently 8.42%.

Analysts Set New Price Targets

CRS has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. KeyCorp lifted their target price on shares of Carpenter Technology from $453.00 to $459.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Wells Fargo & Company lifted their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. BTIG Research boosted their price objective on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 price objective on shares of Carpenter Technology in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $441.00.

Insiders Place Their Bets

In related news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 750 shares in the company, valued at $317,895. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction 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 sale, the vice president owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.90% of the company’s stock.

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.