Fiducient Advisors LLC Invests $916,000 in Carpenter Technology Corporation $CRS

Fiducient Advisors LLC purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,910 shares of the basic materials company’s stock, valued at approximately $916,000.

Several other large investors have also recently bought and sold shares of the business. Aspex Management HK Ltd acquired a new stake in Carpenter Technology in the third quarter valued at $136,215,000. TOMS Capital Investment Management LP acquired a new position in shares of Carpenter Technology during the 2nd quarter worth $106,683,000. UBS Group AG grew its stake in shares of Carpenter Technology by 171.2% during the 4th 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 period. Qube Research & Technologies Ltd grew its stake in shares of Carpenter Technology by 111.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock worth $151,731,000 after purchasing an additional 325,919 shares during the period. Finally, Raymond James Financial Inc. grew its stake in shares of Carpenter Technology by 244.3% during the 2nd quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock worth $113,669,000 after purchasing an additional 291,829 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the transaction, the director owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were 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. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRS. Weiss Ratings raised shares of Carpenter Technology from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, May 8th. BTIG Research upped their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $441.00.

Carpenter Technology Trading Up 0.3%

Shares of CRS stock opened at $462.25 on Friday. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $475.69. The stock has a market cap of $22.97 billion, a P/E ratio of 48.66, a P/E/G ratio of 1.70 and a beta of 1.24. The business has a fifty day simple moving average of $419.52 and a 200-day simple moving average of $370.09. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results 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 business had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. During the same quarter last year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts forecast that Carpenter Technology Corporation will post 10.54 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be given a $0.20 dividend. The ex-dividend date is Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is currently 8.42%.

About Carpenter Technology

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.