Sanctuary Advisors LLC Purchases New Holdings in Carpenter Technology Corporation $CRS

Sanctuary Advisors LLC acquired 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 institutional investor acquired 4,828 shares of the basic materials company’s stock, valued at approximately $2,978,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Carpenter Technology during the second quarter valued at approximately $3,834,623,000. Jennison Associates LLC bought a new position in shares of Carpenter Technology during the first quarter valued at approximately $317,411,000. Sands Capital Management LLC bought a new position in shares of Carpenter Technology during the fourth quarter valued at approximately $195,731,000. Norges Bank purchased a new stake in shares of Carpenter Technology in the fourth quarter worth approximately $195,254,000. Finally, TOMS Capital Investment Management LP purchased a new stake in shares of Carpenter Technology in the second quarter worth approximately $106,683,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 1.6%

Shares of NYSE:CRS opened at $484.57 on Wednesday. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The stock has a market cap of $24.02 billion, a P/E ratio of 46.06, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. The business’s 50 day moving average is $563.64 and its 200 day moving average is $471.76. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31.

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

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio is presently 7.60%.

Insider Activity at Carpenter Technology

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CRS. Wells Fargo & Company boosted their price objective on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Susquehanna reduced their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. JPMorgan Chase & Co. reduced their target price on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. TD Cowen lifted their target price on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Zacks Research raised shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $577.25.

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.