Prudent Man Advisors LLC Acquires Shares of 766 Carpenter Technology Corporation $CRS

Prudent Man Advisors LLC purchased a new position in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 766 shares of the basic materials company’s stock, valued at approximately $212,000.

A number of other large investors also recently modified their holdings of CRS. Egerton Capital UK LLP acquired a new stake in shares of Carpenter Technology in the 1st quarter worth about $329,727,000. Invesco Ltd. grew its stake in shares of Carpenter Technology by 37.1% in the 1st quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock worth $381,869,000 after purchasing an additional 570,441 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $134,790,000. Nuveen LLC acquired a new position in shares of Carpenter Technology in the first quarter worth about $63,136,000. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Carpenter Technology by 79.2% in the first quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock worth $103,806,000 after buying an additional 253,163 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director I Martin Inglis sold 5,691 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the completion of the transaction, the director directly owned 6,732 shares of the company’s stock, valued at $1,646,243.28. This trade represents a 45.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven E. Karol sold 3,433 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the transaction, the director directly owned 180,000 shares of the company’s stock, valued at $44,240,400. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,124 shares of company stock valued at $6,890,250. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Stock Up 4.5%

Shares of NYSE CRS opened at $313.63 on Monday. The firm’s 50-day simple moving average is $246.12 and its 200 day simple moving average is $242.06. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $315.90.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The company had revenue of $733.70 million for the quarter, compared to the consensus estimate of $741.18 million. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is presently 9.78%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRS. Zacks Research cut shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Jones Trading assumed coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $425.00 price target on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday. TD Cowen lifted their price target on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Friday. Finally, BTIG Research reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.33.

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.