Carpenter Technology Corporation $CRS Stake Boosted by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 17.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,198 shares of the basic materials company’s stock after buying an additional 760 shares during the quarter. SG Americas Securities LLC’s holdings in Carpenter Technology were worth $1,437,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Carpenter Technology in the 1st quarter worth about $31,000. IMA Advisory Services Inc. acquired a new stake in shares of Carpenter Technology during the 1st quarter valued at about $36,000. Penserra Capital Management LLC bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $71,000. Strategic Investment Solutions Inc. IL acquired a new position in Carpenter Technology in the first quarter worth approximately $49,000. Finally, Hantz Financial Services Inc. raised its position in Carpenter Technology by 1,657.9% during the second quarter. Hantz Financial Services Inc. now owns 334 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 315 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRS shares. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. TD Cowen upped their price objective on shares of Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 24th. KeyCorp raised shares of 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, November 13th. Jones Trading began coverage on Carpenter Technology in a report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 target price on the stock. Finally, Zacks Research downgraded Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $371.14.

Carpenter Technology Stock Performance

Shares of CRS opened at $306.38 on Friday. The company has a market capitalization of $15.26 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. 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 Corporation has a one year low of $138.61 and a one year high of $342.11. The company’s fifty day moving average price is $275.60 and its 200 day moving average price is $259.63.

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

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is 9.78%.

Insider Buying and Selling

In other news, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the transaction, the director directly owned 180,000 shares in the company, valued at $44,240,400. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

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.