Ashton Thomas Private Wealth LLC Buys 2,302 Shares of Carpenter Technology Corporation $CRS

Ashton Thomas Private Wealth LLC increased its stake in Carpenter Technology Corporation (NYSE:CRS) by 98.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,652 shares of the basic materials company’s stock after acquiring an additional 2,302 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Carpenter Technology were worth $1,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRS. Allspring Global Investments Holdings LLC lifted its position in shares of Carpenter Technology by 15.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock worth $138,328,000 after purchasing an additional 71,872 shares during the period. William Blair Investment Management LLC bought a new position in Carpenter Technology during the second quarter worth $134,790,000. Raymond James Financial Inc. lifted its holdings in Carpenter Technology by 244.3% in the second quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock valued at $113,669,000 after buying an additional 291,829 shares during the period. Franklin Resources Inc. boosted its position in Carpenter Technology by 10.9% during the second quarter. Franklin Resources Inc. now owns 393,039 shares of the basic materials company’s stock valued at $108,628,000 after acquiring an additional 38,699 shares during the last quarter. Finally, TOMS Capital Investment Management LP bought a new stake in Carpenter Technology during the second quarter valued at $106,683,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price for the company in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, BTIG Research lifted their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $373.43.

Carpenter Technology Trading Up 4.9%

Shares of Carpenter Technology stock opened at $365.85 on Friday. The stock has a market capitalization of $18.22 billion, a PE ratio of 42.49, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $370.59. The stock has a 50 day moving average price of $326.86 and a two-hundred day moving average price of $288.77. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.26 and a current ratio of 4.25.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The company had revenue of $589.10 million for the quarter, compared to analyst estimates of $733.76 million. During the same period in the prior year, the firm earned $1.66 earnings per share. Carpenter Technology’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts anticipate that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is 9.29%.

Insider Transactions at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the transaction, the vice president owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian J. Malloy sold 43,688 shares of Carpenter Technology stock in a transaction dated 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 transaction, the chief operating officer owned 78,875 shares of the company’s stock, valued at $24,013,493.75. This trade represents a 35.65% decrease in their position. 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 quarter. 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.