Y.D. More Investments Ltd Makes New $678,000 Investment in Carpenter Technology Corporation $CRS

Y.D. More Investments Ltd bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,719 shares of the basic materials company’s stock, valued at approximately $678,000.

A number of other hedge funds also recently modified their holdings of the business. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology during the second quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Carpenter Technology in the 1st quarter worth about $30,000. SJS Investment Consulting Inc. lifted its stake in Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Armstrong Advisory Group Inc. boosted its position in Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 43 shares during the period. Finally, Spire Wealth Management boosted its position in Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the firm’s 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 transaction, the director directly owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business’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 sale, the vice president directly owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This represents a 39.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Down 2.1%

Shares of NYSE CRS opened at $566.58 on Tuesday. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 1.68 and a beta of 1.22. The business has a 50 day simple moving average of $515.33 and a 200 day simple moving average of $424.57. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. On average, research analysts predict that Carpenter Technology Corporation will post 10.56 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. Investors of record on Tuesday, April 28th were issued a $0.20 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. Carpenter Technology’s dividend payout ratio is currently 8.42%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen lifted their target price on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research note on Monday. Susquehanna boosted their price objective on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research report on Thursday. KeyCorp increased their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. boosted their price target 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. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $527.38.

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.