Penserra Capital Management LLC Takes $71,000 Position in Carpenter Technology Corporation $CRS

Penserra Capital Management LLC acquired a new position in Carpenter Technology Corporation (NYSE:CRS) during the 2nd quarter, Holdings Channel reports. The firm acquired 258 shares of the basic materials company’s stock, valued at approximately $71,000.

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

Insider Transactions at Carpenter Technology

In related news, Director Steven E. Karol sold 3,433 shares of the business’s stock in a transaction dated 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 directly owned 180,000 shares in the company, valued at approximately $44,240,400. The trade was a 1.87% decrease in their ownership of the stock. The transaction 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 the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at approximately $131,074,304.81. The trade was 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 valued at $6,890,250. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Trading Down 2.2%

Shares of CRS opened at $324.69 on Friday. The firm has a market cap of $16.18 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $342.11. The company has a 50 day simple moving average of $267.98 and a two-hundred day simple moving average of $255.40.

Carpenter Technology (NYSE:CRS) last issued its 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 firm had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. Carpenter Technology’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, equities analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.78%.

Analyst Upgrades and Downgrades

CRS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. BTIG Research boosted their price objective on Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. increased their target price on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Jones Trading initiated coverage on shares of Carpenter Technology in a report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Thursday, October 30th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.