Regency Capital Management Inc. DE Acquires Shares of 5,736 Carpenter Technology Corporation $CRS

Regency Capital Management Inc. DE bought a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,736 shares of the basic materials company’s stock, valued at approximately $2,261,000.

Other large investors have also recently modified their holdings of the company. Sands Capital Management LLC bought a new position in Carpenter Technology in the 4th quarter worth about $195,731,000. Norges Bank bought a new stake in shares of Carpenter Technology during the 4th quarter worth $195,254,000. TOMS Capital Investment Management LP purchased a new stake in Carpenter Technology during the second quarter valued at about $106,683,000. UBS Group AG lifted its stake in Carpenter Technology by 171.2% during the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock worth $190,951,000 after purchasing an additional 382,865 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after purchasing an additional 327,302 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRS. TD Cowen increased their price objective on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna upped their target price on Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a research report on Tuesday. KeyCorp lifted their price target on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Finally, BTIG Research upped their price objective on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $556.75.

Insider Transactions at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $576.27 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98. The business’s 50 day simple moving average is $520.30 and its two-hundred day simple moving average is $427.97. The stock has a market capitalization of $28.63 billion, a P/E ratio of 60.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The firm had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Carpenter Technology Corporation will post 10.57 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. Carpenter Technology’s payout ratio 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.