Keystone Investors PTE Ltd. Sells 25,472 Shares of Carpenter Technology Corporation $CRS

Keystone Investors PTE Ltd. cut its position in Carpenter Technology Corporation (NYSE:CRS) by 73.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,974 shares of the basic materials company’s stock after selling 25,472 shares during the period. Keystone Investors PTE Ltd.’s holdings in Carpenter Technology were worth $2,825,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CRS. Woodline Partners LP acquired a new position in shares of Carpenter Technology during the first quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Carpenter Technology by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after acquiring an additional 1,701 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Carpenter Technology by 7.3% during the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 314 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Carpenter Technology during the second quarter valued at about $80,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Carpenter Technology during the second quarter valued at about $533,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CRS shares. BTIG Research upped their price objective on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. KeyCorp upped their price objective on shares of Carpenter Technology from $453.00 to $459.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Susquehanna upped their price objective on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $458.63.

Insider Buying and Selling

In related news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the sale, the director owned 750 shares in the company, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $560.25 on Friday. The business’s 50 day moving average price is $446.24 and its 200 day moving average price is $383.91. The firm has a market cap of $27.84 billion, a P/E ratio of 58.97, a P/E/G ratio of 1.94 and a beta of 1.25. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $574.52. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last issued its 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. The firm had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.Carpenter Technology’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. On average, sell-side analysts expect that Carpenter Technology Corporation will post 10.56 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. Carpenter Technology’s dividend payout ratio is currently 8.42%.

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.