Carpenter Technology Corporation $CRS Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Carpenter Technology Corporation (NYSE:CRS) by 8.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 975,960 shares of the basic materials company’s stock after purchasing an additional 78,588 shares during the period. Geode Capital Management LLC’s holdings in Carpenter Technology were worth $307,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. increased its stake in Carpenter Technology by 23.4% during the fourth quarter. Harbour Investments Inc. now owns 274 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 52 shares during the last quarter. Fisher Asset Management LLC increased its stake in Carpenter Technology by 0.7% during the fourth quarter. Fisher Asset Management LLC now owns 285,507 shares of the basic materials company’s stock worth $89,889,000 after acquiring an additional 1,860 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in Carpenter Technology by 430.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 12,090 shares of the basic materials company’s stock worth $3,806,000 after acquiring an additional 9,809 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Carpenter Technology by 129.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,054 shares of the basic materials company’s stock worth $332,000 after acquiring an additional 595 shares during the last quarter. Finally, Lisanti Capital Growth LLC increased its stake in Carpenter Technology by 47.1% during the fourth quarter. Lisanti Capital Growth LLC now owns 28,625 shares of the basic materials company’s stock worth $9,012,000 after acquiring an additional 9,160 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings raised Carpenter Technology from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. Wells Fargo & Company raised their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, TD Cowen raised their target price on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $441.00.

Carpenter Technology Trading Up 3.9%

CRS opened at $487.36 on Tuesday. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $490.22. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 1.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The business has a fifty day moving average price of $423.34 and a 200 day moving average price of $372.24.

Carpenter Technology (NYSE:CRS) last released its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS 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 firm had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. During the same period in the previous year, the firm posted $1.88 EPS. Carpenter Technology’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts expect that Carpenter Technology Corporation will post 10.54 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th 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 of this dividend is Tuesday, April 28th. Carpenter Technology’s payout ratio is presently 8.42%.

Insider Buying and Selling at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of the business’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 of the company’s stock, valued at $8,096,307.84. The trade was a 39.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the business’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 transaction, the director directly 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. Insiders own 2.90% of the company’s stock.

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.