7,898 Shares in Carpenter Technology Corporation $CRS Bought by Shilanski & Associates Inc.

Shilanski & Associates Inc. bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,898 shares of the basic materials company’s stock, valued at approximately $1,939,000.

Several other hedge funds also recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new stake in Carpenter Technology during the 2nd quarter worth about $134,790,000. TOMS Capital Investment Management LP purchased a new stake in shares of Carpenter Technology in the second quarter worth about $106,683,000. Qube Research & Technologies Ltd acquired a new stake in Carpenter Technology during the second quarter worth about $80,711,000. Raymond James Financial Inc. raised its position in Carpenter Technology by 244.3% during the second quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock valued at $113,669,000 after acquiring an additional 291,829 shares in the last quarter. Finally, HRT Financial LP acquired a new position in Carpenter Technology in the second quarter valued at approximately $49,629,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

CRS opened at $318.92 on Wednesday. The firm’s fifty day simple moving average is $317.55 and its two-hundred day simple moving average is $277.03. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $342.11. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 1.36 and a beta of 1.31. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.30. The firm had revenue of $733.70 million during the quarter, compared to the consensus estimate of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. Equities analysts anticipate that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio is presently 9.78%.

Wall Street Analyst Weigh In

CRS has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on shares of Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. BTIG Research raised their price target on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research report on Thursday, November 13th. TD Cowen increased their target price on shares of Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Jones Trading initiated coverage on Carpenter Technology in a research report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $371.14.

Insider Activity at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 3,900 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the transaction, the vice president directly owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This represents a 28.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian J. Malloy sold 43,688 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total value of $13,300,811.60. Following the completion of the transaction, the chief operating officer owned 78,875 shares in the company, valued at $24,013,493.75. The trade was a 35.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 79,358 shares of company stock worth $24,254,008. Company insiders own 2.90% of the company’s stock.

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.