Union Bancaire Privee UBP SA Invests $6.21 Million in Carpenter Technology Corporation $CRS

Union Bancaire Privee UBP SA purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) during the 4th quarter, Holdings Channel reports. The fund purchased 19,730 shares of the basic materials company’s stock, valued at approximately $6,212,000.

Several other hedge funds have also added to or reduced their stakes in CRS. Clearstead Advisors LLC raised its holdings in Carpenter Technology by 17.9% during the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 36 shares during the last quarter. Glass Jacobson Investment Advisors llc grew its position in shares of Carpenter Technology by 3.9% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock worth $239,000 after buying an additional 37 shares during the period. Panagora Asset Management Inc. grew its position in shares of Carpenter Technology by 3.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock worth $404,000 after buying an additional 43 shares during the period. Independent Advisor Alliance raised its stake in shares of Carpenter Technology by 0.6% during the third quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company’s stock worth $1,639,000 after buying an additional 43 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Carpenter Technology by 15.3% during the third quarter. Versant Capital Management Inc now owns 376 shares of the basic materials company’s stock worth $92,000 after buying an additional 50 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Activity at Carpenter Technology

In other news, 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 transaction 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. This represents a 17.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director owned 225,381 shares in the company, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,300 shares of company stock worth $8,664,044 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of a number of recent research reports. Susquehanna assumed coverage on shares of Carpenter Technology in a research note on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. BTIG Research upped their price objective on Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Nine 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $385.50.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $362.49 on Friday. The stock’s fifty day simple moving average is $364.25 and its 200 day simple moving average is $316.06. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $18.06 billion, a PE ratio of 42.10, a PEG ratio of 1.48 and a beta of 1.22. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $412.31.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $733.76 million. During the same period in the previous year, the firm earned $1.66 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, research analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is 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.