Sanctuary Advisors LLC Invests $2.98 Million in Carpenter Technology Corporation $CRS

Sanctuary Advisors LLC acquired a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,828 shares of the basic materials company’s stock, valued at approximately $2,978,000.

Other institutional investors also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Carpenter Technology in the 2nd quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Carpenter Technology during the 1st quarter worth $30,000. SJS Investment Consulting Inc. boosted its position in 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 purchasing an additional 36 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in Carpenter Technology during the second quarter valued at about $55,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Carpenter Technology during the second quarter valued at about $56,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Up 1.6%

Shares of CRS stock opened at $484.57 on Wednesday. The stock’s fifty day moving average price is $563.64 and its 200 day moving average price is $471.76. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. 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. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The company had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $863.33 million. During the same period last year, the business posted $2.21 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, research analysts expect that Carpenter Technology Corporation will post 13.08 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio is 7.60%.

Insider Activity

In other news, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $493.15, for a total transaction of $215,999.70. Following the transaction, the director owned 1,953 shares in the company, valued at $963,121.95. This represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRS. JPMorgan Chase & Co. reduced their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, July 31st. TD Cowen lifted their price objective on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Susquehanna cut their price objective on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Wall Street Zen lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, KeyCorp decreased their target price on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $577.25.

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.