Dorsey Wright & Associates Buys 1,216 Shares of Carpenter Technology Corporation $CRS

Dorsey Wright & Associates boosted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,012 shares of the basic materials company’s stock after buying an additional 1,216 shares during the period. Carpenter Technology comprises 2.7% of Dorsey Wright & Associates’ investment portfolio, making the stock its 8th largest holding. Dorsey Wright & Associates’ holdings in Carpenter Technology were worth $12,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. lifted its stake in 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 acquiring an additional 327,302 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Carpenter Technology by 60.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,213 shares of the basic materials company’s stock worth $697,000 after acquiring an additional 835 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Carpenter Technology in the fourth quarter worth $386,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Carpenter Technology by 22.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,127 shares of the basic materials company’s stock worth $1,929,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in Carpenter Technology by 4.3% during the fourth quarter. Raymond James Financial Inc. now owns 464,985 shares of the basic materials company’s stock worth $147,572,000 after purchasing an additional 19,345 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $585.78 on Friday. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $593.18. The company has a market capitalization of $29.11 billion, a P/E ratio of 61.66, a P/E/G ratio of 1.98 and a beta of 1.25. The stock has a 50 day moving average of $460.51 and a 200-day moving average of $391.55. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same period in the prior year, the firm earned $1.88 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that Carpenter Technology Corporation will post 10.56 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 annualized dividend and a yield of 0.1%. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

Insider Transactions at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm’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 transaction of $317,895.00. Following the transaction, the director directly owned 750 shares in the company, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRS. KeyCorp raised their price objective on shares of Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Wells Fargo & Company upped their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. TD Cowen raised their price target on Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. Finally, BTIG Research boosted their price target on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $458.62.

Carpenter Technology Company 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.