Virtu Financial LLC Invests $2.78 Million in Carpenter Technology Corporation $CRS

Virtu Financial LLC acquired a new position in Carpenter Technology Corporation (NYSE:CRS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,829 shares of the basic materials company’s stock, valued at approximately $2,780,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sands Capital Management LLC acquired a new position in shares of Carpenter Technology in the 4th quarter valued at $195,731,000. Norges Bank purchased a new position in shares of Carpenter Technology during the 4th quarter worth $195,254,000. Aspex Management HK Ltd acquired a new stake in shares of Carpenter Technology during the 3rd quarter worth about $136,215,000. TOMS Capital Investment Management LP acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth about $106,683,000. Finally, UBS Group AG increased its position in shares of Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock worth $190,951,000 after purchasing an additional 382,865 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $585.78 on Friday. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $593.18. The stock has a market capitalization of $29.11 billion, a PE ratio of 61.66, a P/E/G ratio of 1.98 and a beta of 1.25. The firm has a 50 day moving average of $460.51 and a two-hundred day moving average of $391.55.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the prior year, the company earned $1.88 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Carpenter Technology Corporation will post 10.56 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s payout ratio is presently 8.42%.

Insider Buying and Selling at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at $8,096,307.84. The trade was a 39.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the sale, the director owned 750 shares in the company, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. KeyCorp upped their target price on shares of Carpenter Technology from $453.00 to $459.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. TD Cowen increased their target price on shares of Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Susquehanna lifted their price target on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $458.62.

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.