Rockefeller Capital Management L.P. Grows Position in Carpenter Technology Corporation $CRS

Rockefeller Capital Management L.P. raised its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 325.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,332 shares of the basic materials company’s stock after acquiring an additional 3,313 shares during the period. Rockefeller Capital Management L.P.’s holdings in Carpenter Technology were worth $1,364,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LLC bought a new position in shares of Carpenter Technology during the fourth quarter valued at about $409,000. Banque Transatlantique SA bought a new stake in Carpenter Technology in the 4th quarter worth about $285,000. Pacer Advisors Inc. increased its stake in Carpenter Technology by 30.3% in the 4th quarter. Pacer Advisors Inc. now owns 8,565 shares of the basic materials company’s stock valued at $2,697,000 after buying an additional 1,990 shares during the last quarter. Virtu Financial LLC purchased a new stake in Carpenter Technology in the 4th quarter valued at about $2,780,000. Finally, Vinland Capital Management Gestora de Recursos LTDA. bought a new position in shares of Carpenter Technology during the 4th quarter worth approximately $152,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carpenter Technology

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Susquehanna increased their price target on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. KeyCorp boosted their price objective on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research report on Tuesday. TD Cowen lifted their target price on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Finally, BTIG Research increased their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research report 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’s stock. According to MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus target price of $481.75.

Carpenter Technology Stock Performance

NYSE CRS opened at $610.03 on Thursday. The firm has a market cap of $30.31 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 2.12 and a beta of 1.21. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $488.92 and its 200-day moving average is $409.55. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $624.50.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data 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 company had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same period last year, the firm earned $1.88 EPS. Carpenter Technology’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts predict that Carpenter Technology Corporation will post 10.56 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

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.