Transamerica Financial Advisors LLC Invests $13.84 Million in Carpenter Technology Corporation $CRS

Transamerica Financial Advisors LLC purchased a new position in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,428 shares of the basic materials company’s stock, valued at approximately $13,835,000. Carpenter Technology comprises about 1.2% of Transamerica Financial Advisors LLC’s holdings, making the stock its 17th biggest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC raised its position in Carpenter Technology by 1.7% in the second quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock worth $708,000 after acquiring an additional 19 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Carpenter Technology by 3.7% during the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 32 shares during the period. Abel Hall LLC grew its position in shares of Carpenter Technology by 3.2% during the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 32 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Carpenter Technology by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after purchasing an additional 34 shares during the last quarter. Finally, Essential Partners LLC increased its stake in shares of Carpenter Technology by 9.9% during the 1st quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Susquehanna decreased their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Wall Street Zen lowered Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. KeyCorp lowered their target price on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Wells Fargo & Company upped their price target on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Buy” and an average price target of $577.25.

Carpenter Technology Stock Down 0.6%

CRS stock opened at $483.19 on Thursday. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 45.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.25. The company’s 50 day moving average is $561.77 and its 200 day moving average is $472.72.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. The business had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Sell-side analysts predict that Carpenter Technology Corporation will post 13.08 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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 $0.20 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s payout ratio is presently 7.60%.

Insider Activity

In other news, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $493.15, for a total transaction of $215,999.70. Following the completion of the transaction, the director directly owned 1,953 shares of the company’s stock, valued at approximately $963,121.95. This represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

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.