Carpenter Technology Corporation $CRS Stake Increased by Osaic Holdings Inc.

Osaic Holdings Inc. increased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 27.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,257 shares of the basic materials company’s stock after purchasing an additional 5,023 shares during the quarter. Osaic Holdings Inc.’s holdings in Carpenter Technology were worth $6,418,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRS. Raymond James Financial Inc. lifted its stake in Carpenter Technology by 8.2% in the 1st quarter. Raymond James Financial Inc. now owns 119,448 shares of the basic materials company’s stock worth $21,641,000 after acquiring an additional 9,079 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Carpenter Technology by 82.7% in the 1st quarter. Hsbc Holdings PLC now owns 8,994 shares of the basic materials company’s stock valued at $1,615,000 after purchasing an additional 4,070 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Carpenter Technology by 85.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 387,788 shares of the basic materials company’s stock worth $70,261,000 after purchasing an additional 178,302 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of Carpenter Technology by 14.4% during the first quarter. Compound Planning Inc. now owns 1,479 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 186 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Carpenter Technology by 0.8% during the first quarter. Comerica Bank now owns 51,184 shares of the basic materials company’s stock worth $9,274,000 after purchasing an additional 401 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 1.5%

Shares of NYSE:CRS opened at $332.15 on Tuesday. The company has a current ratio of 4.44, a quick ratio of 2.37 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.55 billion, a PE ratio of 40.61, a P/E/G ratio of 1.37 and a beta of 1.31. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $342.11. The firm has a fifty day moving average price of $306.97 and a 200 day moving average price of $273.57.

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, topping analysts’ consensus estimates of $2.13 by $0.30. The company had revenue of $733.70 million during the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. Analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s dividend payout ratio is presently 9.78%.

Insider Activity at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the sale, the vice president directly owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This represents a 28.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian J. Malloy sold 43,688 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the completion of the transaction, the chief operating officer owned 78,875 shares in the company, valued at $24,013,493.75. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 79,358 shares of company stock worth $24,254,008. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CRS. 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. BTIG Research increased their price objective on Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 27th. TD Cowen lifted their price objective on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 24th. KeyCorp raised 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. Finally, Zacks Research downgraded Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average target price of $371.14.

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.