Los Angeles Capital Management LLC Has $9.02 Million Position in Carpenter Technology Corporation $CRS

Los Angeles Capital Management LLC raised its holdings in Carpenter Technology Corporation (NYSE:CRS) by 116.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,650 shares of the basic materials company’s stock after buying an additional 17,569 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Carpenter Technology worth $9,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. Radnor Capital Management LLC increased its stake in Carpenter Technology by 3.3% in the second quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 40 shares during the period. M&T Bank Corp boosted its holdings in Carpenter Technology by 3.9% during the first quarter. M&T Bank Corp now owns 1,541 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 58 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Carpenter Technology by 1.1% during the first quarter. KLP Kapitalforvaltning AS now owns 9,600 shares of the basic materials company’s stock valued at $1,739,000 after purchasing an additional 100 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Carpenter Technology by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 10,600 shares of the basic materials company’s stock valued at $1,921,000 after purchasing an additional 100 shares during the period. Finally, Tlwm raised its holdings in shares of Carpenter Technology by 1.1% in the 2nd quarter. Tlwm now owns 10,274 shares of the basic materials company’s stock worth $2,840,000 after buying an additional 109 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

Shares of CRS stock opened at $327.68 on Monday. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $330.50. The stock has a market capitalization of $16.32 billion, a PE ratio of 40.06, a PEG ratio of 1.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. The stock’s fifty day moving average is $260.98 and its 200-day moving average is $252.60.

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, topping the consensus estimate of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The business had revenue of $733.70 million for the quarter, compared to the consensus estimate of $741.18 million. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research 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 will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is presently 9.78%.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the 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 transaction, the director directly owned 180,000 shares in the company, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction on Monday, August 18th. The shares were sold at an average price of $244.99, for a total value of $4,654,810.00. Following the completion of the sale, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at $131,074,304.81. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,124 shares of company stock worth $6,890,250. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, October 24th. TD Cowen increased their target price on shares of Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $369.67.

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.