2,388 Shares in Carpenter Technology Corporation $CRS Bought by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,388 shares of the basic materials company’s stock, valued at approximately $1,473,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRS. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the second quarter valued at about $28,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Carpenter Technology during the second quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Carpenter Technology during the 1st quarter valued at about $30,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Carpenter Technology during the 2nd quarter valued at about $45,000. 92.03% of the stock is currently owned by institutional investors.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, CEO Tony R. Thene sold 57,456 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the transaction, the chief executive officer owned 439,631 shares of the company’s stock, valued at $212,737,440.90. The trade was a 11.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramin Younessi sold 438 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the transaction, the director directly owned 1,953 shares in the company, valued at approximately $963,121.95. This trade represents a 18.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 109,721 shares of company stock valued at $53,091,824 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRS has been the subject of a number of research reports. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. cut their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Wall Street Zen cut shares of Carpenter Technology from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Wells Fargo & Company raised their price objective on shares of Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Finally, KeyCorp cut their price objective on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Carpenter Technology currently has a consensus rating of “Buy” and an average price target of $577.25.

Carpenter Technology Stock Performance

CRS opened at $476.72 on Tuesday. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The firm has a market capitalization of $23.63 billion, a PE ratio of 45.32, a PEG ratio of 1.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The business’s 50-day simple moving average is $555.47 and its 200 day simple moving average is $475.21.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $863.33 million. During the same quarter last year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts expect that Carpenter Technology Corporation will post 13.09 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is 7.60%.

Carpenter Technology 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.