Hantz Financial Services Inc. Acquires 315 Shares of Carpenter Technology Corporation $CRS

Hantz Financial Services Inc. grew its holdings in Carpenter Technology Corporation (NYSE:CRS) by 1,657.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 334 shares of the basic materials company’s stock after purchasing an additional 315 shares during the quarter. Hantz Financial Services Inc.’s holdings in Carpenter Technology were worth $92,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Radnor Capital Management LLC raised its position in shares of Carpenter Technology by 3.3% in the 2nd quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 40 shares during the period. M&T Bank Corp raised its position in shares of Carpenter Technology by 3.9% in the 1st quarter. M&T Bank Corp now owns 1,541 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 58 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Carpenter Technology by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,798 shares of the basic materials company’s stock valued at $688,000 after acquiring an additional 97 shares during the period. KLP Kapitalforvaltning AS raised its position in shares of Carpenter Technology by 1.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 9,600 shares of the basic materials company’s stock valued at $1,739,000 after acquiring an additional 100 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Carpenter Technology by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 10,600 shares of the basic materials company’s stock valued at $1,921,000 after acquiring an additional 100 shares during the period. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRS. BTIG Research increased their price target on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Jones Trading began coverage on Carpenter Technology in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price for the company. TD Cowen boosted their target price on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $369.67.

Insider Activity

In other news, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the sale, the director directly owned 180,000 shares in the company, valued at $44,240,400. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the completion of the sale, the chief executive officer owned 535,019 shares in the company, valued at $131,074,304.81. This trade represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,124 shares of company stock worth $6,890,250 over the last ninety days. Insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $306.35 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. The company has a market capitalization of $15.26 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company’s 50 day moving average price is $256.26 and its two-hundred day moving average price is $249.62. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $330.50.

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

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is 9.78%.

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.