Quantbot Technologies LP Invests $1.43 Million in Carpenter Technology Corporation $CRS

Quantbot Technologies LP purchased a new position in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, HoldingsChannel reports. The firm purchased 2,316 shares of the basic materials company’s stock, valued at approximately $1,429,000.

Several other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in Carpenter Technology during the 2nd quarter valued at about $28,000. Keating Financial Advisory Services Inc. bought a new position in shares of Carpenter Technology in the second quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Carpenter Technology during the first quarter valued at approximately $30,000. SJS Investment Consulting Inc. grew its holdings in shares of Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after buying an additional 36 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Carpenter Technology during the second quarter valued at approximately $43,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRS shares. Wall Street Zen lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a report on Saturday. BTIG Research increased their target price on Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wells Fargo & Company lifted their target price on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. KeyCorp lowered their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Finally, Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Carpenter Technology has an average rating of “Buy” and a consensus price target of $577.25.

Insider Activity

In related news, Director Ramin Younessi sold 438 shares of Carpenter Technology stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the completion of the sale, the director owned 1,953 shares of the company’s stock, valued at $963,121.95. The trade was a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Stock Up 1.6%

Shares of Carpenter Technology stock opened at $484.57 on Wednesday. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $563.64 and its 200 day moving average is $471.76. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. Research analysts anticipate that Carpenter Technology Corporation will post 13.08 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is 7.60%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.