Corient Private Wealth LP Buys Shares of 4,949 Carpenter Technology Corporation $CRS

Corient Private Wealth LP purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the second quarter, HoldingsChannel.com reports. The fund purchased 4,949 shares of the basic materials company’s stock, valued at approximately $3,053,000.

Several other institutional investors have also modified their holdings of CRS. Wealthcare Advisory Partners LLC grew its holdings in shares of Carpenter Technology by 1.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock worth $708,000 after acquiring an additional 19 shares during the period. Meeder Advisory Services Inc. raised its holdings in Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 32 shares during the last quarter. Abel Hall LLC raised its holdings in Carpenter Technology by 3.2% during the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 32 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted 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 worth $3,509,000 after purchasing an additional 34 shares in the last quarter. Finally, Essential Partners LLC boosted its position in Carpenter Technology by 9.9% during the first quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $472.19 on Wednesday. The business’s fifty day moving average price is $553.33 and its two-hundred day moving average price is $475.93. The stock has a market cap of $23.40 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The company had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $863.33 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts forecast that Carpenter Technology Corporation will post 13.28 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be given 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, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is currently 7.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRS shares. Susquehanna cut their price target on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. TD Cowen raised their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 13th. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, KeyCorp cut their target price on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Buy” and an average target price of $577.25.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the transaction, the director directly owned 1,953 shares in the company, valued at approximately $963,121.95. This represents a 18.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony R. Thene sold 57,456 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the sale, the chief executive officer directly owned 439,631 shares in the company, valued at $212,737,440.90. This represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 109,721 shares of company stock valued at $53,091,824. 2.90% of the stock is currently owned by company insiders.

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.