Frontier Capital Management Co. LLC Has $90.09 Million Stake in Carpenter Technology Corporation $CRS

Frontier Capital Management Co. LLC reduced its holdings in Carpenter Technology Corporation (NYSE:CRS) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 325,956 shares of the basic materials company’s stock after selling 4,153 shares during the quarter. Carpenter Technology comprises 0.8% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 18th biggest holding. Frontier Capital Management Co. LLC owned approximately 0.65% of Carpenter Technology worth $90,088,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Advent International L.P. boosted its stake in Carpenter Technology by 12.1% during the 1st quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock valued at $145,819,000 after purchasing an additional 87,186 shares during the period. American Century Companies Inc. lifted its holdings in shares of Carpenter Technology by 13.9% during the first quarter. American Century Companies Inc. now owns 588,889 shares of the basic materials company’s stock worth $106,695,000 after buying an additional 71,747 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Carpenter Technology by 79.2% during the first quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock worth $103,806,000 after buying an additional 253,163 shares during the last quarter. Forest Avenue Capital Management LP boosted its position in shares of Carpenter Technology by 81.8% in the first quarter. Forest Avenue Capital Management LP now owns 548,067 shares of the basic materials company’s stock valued at $99,299,000 after acquiring an additional 246,599 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Carpenter Technology by 29.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 503,335 shares of the basic materials company’s stock worth $91,194,000 after acquiring an additional 114,435 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Carpenter Technology news, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the sale, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. This represents a 28.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $304.12 on Thursday. The firm has a market cap of $15.15 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 1.26 and a beta of 1.31. The firm’s 50-day simple moving average is $295.20 and its 200-day simple moving average is $268.66. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $342.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.30. The firm had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 earnings per share. As a group, research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Tuesday, October 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, October 21st. Carpenter Technology’s dividend payout ratio (DPR) is 9.78%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen upped their target price on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Jones Trading initiated coverage on shares of Carpenter Technology in a report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price objective on the stock. BTIG Research upped their price objective on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft set a $425.00 target price on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Nine investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $371.14.

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.