Carpenter Technology Corporation $CRS Shares Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC grew its position in Carpenter Technology Corporation (NYSE:CRS) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,060 shares of the basic materials company’s stock after purchasing an additional 1,118 shares during the quarter. GW&K Investment Management LLC’s holdings in Carpenter Technology were worth $23,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRS. Norges Bank acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at $195,254,000. Aspex Management HK Ltd acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at $136,215,000. TOMS Capital Investment Management LP acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at $106,683,000. UBS Group AG raised its holdings in shares of Carpenter Technology by 171.2% in the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after purchasing an additional 382,865 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Carpenter Technology by 111.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock valued at $151,731,000 after purchasing an additional 325,919 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director directly owned 750 shares in the company, valued at $317,895. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $524.90 on Thursday. The company’s fifty day moving average price is $439.73 and its 200 day moving average price is $380.88. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $537.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The firm has a market capitalization of $26.08 billion, a P/E ratio of 55.25, a P/E/G ratio of 1.94 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same period last year, the business earned $1.88 EPS. Carpenter Technology’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 10.55 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRS. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. BTIG Research lifted their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price target on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus price target of $458.63.

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.