Carpenter Technology Corporation $CRS Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. increased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 860.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490 shares of the basic materials company’s stock after purchasing an additional 439 shares during the period. SBI Securities Co. Ltd.’s holdings in Carpenter Technology were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Invesco Ltd. raised its position in Carpenter Technology by 37.1% during the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock valued at $381,869,000 after acquiring an additional 570,441 shares in the last quarter. Egerton Capital UK LLP purchased a new stake in Carpenter Technology in the 1st quarter worth approximately $329,727,000. Advent International L.P. grew its stake in shares of Carpenter Technology by 12.1% during the 1st quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock worth $145,819,000 after purchasing an additional 87,186 shares during the period. American Century Companies Inc. grew its stake in shares of Carpenter Technology by 13.9% during the 1st quarter. American Century Companies Inc. now owns 588,889 shares of the basic materials company’s stock worth $106,695,000 after purchasing an additional 71,747 shares during the period. Finally, Driehaus Capital Management LLC increased its holdings in shares of Carpenter Technology by 79.2% during the 1st quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock valued at $103,806,000 after purchasing an additional 253,163 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven E. Karol sold 3,433 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares of the company’s stock, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

CRS has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 24th. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $371.14.

Carpenter Technology Trading Up 1.7%

CRS opened at $330.36 on Monday. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 40.39, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. The company’s 50 day simple moving average is $269.64 and its two-hundred day simple moving average is $257.16. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $342.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm had revenue of $733.70 million for the quarter, compared to analysts’ expectations of $741.18 million. During the same quarter in the previous year, the company posted $1.73 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio is currently 9.78%.

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.