Cookson Peirce & Co. Inc. Purchases 585 Shares of Carpenter Technology Corporation $CRS

Cookson Peirce & Co. Inc. raised its position in Carpenter Technology Corporation (NYSE:CRS) by 8.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,654 shares of the basic materials company’s stock after acquiring an additional 585 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Carpenter Technology were worth $2,115,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Carpenter Technology in the 2nd quarter valued at approximately $1,247,000. Mezzasalma Advisors LLC increased its position in shares of Carpenter Technology by 14.2% during the 2nd quarter. Mezzasalma Advisors LLC now owns 11,741 shares of the basic materials company’s stock worth $3,245,000 after purchasing an additional 1,459 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $3,864,000. William Blair Investment Management LLC acquired a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $134,790,000. Finally, WCM Investment Management LLC increased its position in shares of Carpenter Technology by 27.5% during the 2nd quarter. WCM Investment Management LLC now owns 200,944 shares of the basic materials company’s stock worth $55,424,000 after purchasing an additional 43,348 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Tony R. Thene sold 19,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the completion of the sale, the chief executive officer directly owned 535,019 shares in the company, valued at $131,074,304.81. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the sale, the director owned 180,000 shares of the company’s stock, valued at approximately $44,240,400. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,124 shares of company stock worth $6,890,250 in the last ninety days. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Monday, August 4th. Zacks Research lowered Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Carpenter Technology in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $278.33.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $249.00 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.65 and a quick ratio of 2.01. The stock’s fifty day moving average price is $243.76 and its two-hundred day moving average price is $238.78. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $290.84. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 1.10 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The firm had revenue of $755.60 million during the quarter, compared to the consensus estimate of $790.73 million. During the same period in the prior year, the company posted $1.82 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is currently 10.78%.

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.