Kennedy Capital Management LLC Buys New Position in Carpenter Technology Corporation $CRS

Kennedy Capital Management LLC bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,112 shares of the basic materials company’s stock, valued at approximately $5,073,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology during the second quarter valued at approximately $28,000. Armstrong Advisory Group Inc. raised its holdings in shares of Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 84 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Carpenter Technology during the second quarter valued at approximately $43,000. Finally, Rakuten Securities Inc. bought a new position in shares of Carpenter Technology during the second quarter valued at approximately $45,000. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was 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 in the company, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director owned 750 shares of the company’s stock, valued at $317,895. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by company insiders.

Carpenter Technology Price Performance

Shares of CRS stock opened at $562.96 on Tuesday. The stock has a market cap of $27.97 billion, a price-to-earnings ratio of 59.26, a PEG ratio of 1.93 and a beta of 1.25. The business’s fifty day moving average is $449.65 and its 200 day moving average is $386.08. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $574.52. 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 issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same period in the prior year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts expect that Carpenter Technology Corporation will post 10.56 EPS for the current fiscal 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 dividend of $0.20 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.1%. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRS shares. BTIG Research upped their price target on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. TD Cowen upped their price target on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. KeyCorp upped their price target on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $458.63.

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.