Intech Investment Management LLC Purchases 47,265 Shares of Carpenter Technology Corporation $CRS

Intech Investment Management LLC boosted its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 504.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,641 shares of the basic materials company’s stock after buying an additional 47,265 shares during the period. Intech Investment Management LLC’s holdings in Carpenter Technology were worth $13,908,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $28,000. Root Financial Partners LLC acquired a new position in Carpenter Technology during the third quarter valued at approximately $41,000. MassMutual Private Wealth & Trust FSB lifted its stake in Carpenter Technology by 54.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Headlands Technologies LLC bought a new stake in Carpenter Technology during the second quarter worth $43,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at $45,000. 92.03% of the stock is owned by institutional investors.

Insider Transactions at Carpenter Technology

In related news, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the sale, the director owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James D. Dee sold 15,800 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president owned 73,739 shares of the company’s stock, valued at $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 97,758 shares of company stock worth $31,665,177. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. TD Cowen reissued a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. BTIG Research lifted their price target on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research note on Thursday, November 13th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $373.43.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $398.06 on Friday. The business’s 50-day moving average price is $345.15 and its 200-day moving average price is $299.92. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $403.81. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 46.23, a PEG ratio of 1.55 and a beta of 1.30. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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

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.