Calamos Advisors LLC Acquires 10,920 Shares of Carpenter Technology Corporation $CRS

Calamos Advisors LLC raised its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 118.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,112 shares of the basic materials company’s stock after acquiring an additional 10,920 shares during the quarter. Calamos Advisors LLC’s holdings in Carpenter Technology were worth $5,559,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of Carpenter Technology during the first quarter valued at $31,000. IMA Advisory Services Inc. purchased a new position in Carpenter Technology in the 1st quarter worth about $36,000. Strategic Investment Solutions Inc. IL bought a new position in Carpenter Technology during the 1st quarter valued at about $49,000. Banque Cantonale Vaudoise purchased a new stake in shares of Carpenter Technology during the 1st quarter valued at about $71,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Carpenter Technology during the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CRS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Thursday, October 30th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. TD Cowen upped their price objective on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Jones Trading assumed coverage on Carpenter Technology in a report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $371.14.

Carpenter Technology Trading Down 2.2%

Shares of CRS stock opened at $324.69 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.41 and a beta of 1.47. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $342.11. The firm has a fifty day moving average price of $267.98 and a 200-day moving average price of $255.40.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.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 previous year, the business earned $1.73 earnings per share. Carpenter Technology’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed 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. 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 payout ratio is 9.78%.

Insider Buying and Selling

In related news, Director I Martin Inglis sold 5,691 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.54, for a total value of $1,391,677.14. Following the completion of the sale, the director directly owned 6,732 shares of the company’s stock, valued at approximately $1,646,243.28. This represents a 45.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the director owned 180,000 shares in the company, valued at approximately $44,240,400. The trade was a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, 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 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.