Carpenter Technology Corporation $CRS Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 5.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 234,367 shares of the basic materials company’s stock after buying an additional 11,655 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Carpenter Technology were worth $144,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Carpenter Technology in the second quarter worth about $3,834,623,000. State Street Corp boosted its position in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after purchasing an additional 192,533 shares in the last quarter. Invesco Ltd. grew its stake in shares of Carpenter Technology by 18.8% in the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after purchasing an additional 327,302 shares during the last quarter. Egerton Capital UK LLP grew its stake in shares of Carpenter Technology by 13.0% in the 4th quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after purchasing an additional 178,679 shares during the last quarter. Finally, SurgoCap Partners LP raised its holdings in shares of Carpenter Technology by 29.5% in the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock worth $294,377,000 after purchasing an additional 272,896 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of research reports. Wall Street Zen cut shares of Carpenter Technology from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Susquehanna dropped their price target on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a report on Friday, July 31st. BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. KeyCorp reduced their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their target price on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology has an average rating of “Buy” and a consensus target price of $577.25.

Carpenter Technology Price Performance

CRS stock opened at $472.19 on Wednesday. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98. The firm has a 50-day moving average of $553.33 and a two-hundred day moving average of $475.93. The firm has a market capitalization of $23.40 billion, a PE ratio of 44.88, a P/E/G ratio of 1.68 and a beta of 1.26. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31.

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

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology’s payout ratio is presently 7.60%.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, CEO Tony R. Thene sold 57,456 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were 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 of the company’s stock, valued at $212,737,440.90. The trade was a 11.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramin Younessi sold 438 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the completion of the sale, the director owned 1,953 shares of the company’s stock, valued at $963,121.95. The trade was a 18.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 109,721 shares of company stock worth $53,091,824. Corporate 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.