Deutsche Bank AG Acquires New Position in Carpenter Technology Corporation $CRS

Deutsche Bank AG bought a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,276 shares of the basic materials company’s stock, valued at approximately $4,488,000.

A number of other institutional investors also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Carpenter Technology in the 1st quarter worth about $30,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after buying an additional 36 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Carpenter Technology during the 2nd quarter valued at about $55,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $56,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Carpenter Technology by 1,228.6% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 93 shares of the basic materials company’s stock valued at $57,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. 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. Wells Fargo & Company increased their price target on shares of Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Finally, Wall Street Zen lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $577.25.

Carpenter Technology Stock Performance

NYSE CRS opened at $484.57 on Wednesday. The company’s fifty day moving average is $563.64 and its two-hundred day moving average is $471.76. 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 0.31, a current ratio of 3.81 and a quick ratio of 2.23. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 46.06, a P/E/G ratio of 1.71 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.46%. The business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. During the same quarter in the prior year, the business earned $2.21 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts forecast that Carpenter Technology Corporation will post 13.08 EPS for the current year.

Carpenter Technology Dividend Announcement

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

Insider Buying and Selling

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

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.