Jump Financial LLC Makes New Investment in Carpenter Technology Corporation $CRS

Jump Financial LLC bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the 2nd quarter, Holdings Channel reports. The firm bought 13,384 shares of the basic materials company’s stock, valued at approximately $3,699,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Prudential Financial Inc. boosted its holdings in Carpenter Technology by 43.3% in the second quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock worth $15,500,000 after acquiring an additional 16,954 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Carpenter Technology by 11.1% in the 2nd quarter. Schroder Investment Management Group now owns 57,625 shares of the basic materials company’s stock worth $15,926,000 after purchasing an additional 5,757 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Carpenter Technology in the 2nd quarter worth about $1,460,000. Hancock Whitney Corp bought a new position in Carpenter Technology in the 1st quarter worth about $819,000. Finally, Graham Capital Management L.P. grew its position in Carpenter Technology by 175.8% during the 1st quarter. Graham Capital Management L.P. now owns 3,643 shares of the basic materials company’s stock valued at $660,000 after purchasing an additional 2,322 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, VP Elizabeth A. Socci sold 3,900 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the sale, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. The trade was a 28.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 1.2%

NYSE:CRS opened at $304.12 on Thursday. The company has a current ratio of 4.44, a quick ratio of 2.37 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 $342.11. The company has a market cap of $15.15 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.26 and a beta of 1.31. The company has a 50 day simple moving average of $295.20 and a two-hundred day simple moving average of $268.66.

Carpenter Technology (NYSE:CRS) last released its quarterly 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. The firm had revenue of $733.70 million for the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Carpenter Technology’s dividend payout ratio is currently 9.78%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRS. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the stock a “buy” rating in a report on Friday, October 24th. KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research report on Thursday, November 13th. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research note on Thursday, October 30th. Finally, Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.