Carpenter Technology Corporation $CRS Shares Sold by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC cut its holdings in Carpenter Technology Corporation (NYSE:CRS) by 29.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,825 shares of the basic materials company’s stock after selling 2,062 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Carpenter Technology were worth $1,185,000 as of its most recent SEC filing.

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

Carpenter Technology Stock Performance

NYSE CRS opened at $311.20 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $355.00. The firm has a market capitalization of $15.50 billion, a P/E ratio of 36.14, a P/E/G ratio of 1.33 and a beta of 1.30. The business’s 50-day simple moving average is $324.51 and its 200-day simple moving average is $287.07.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The company had revenue of $589.10 million during the quarter, compared to analyst estimates of $733.76 million. During the same quarter in the prior year, the business earned $1.66 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, VP Elizabeth A. Socci sold 3,900 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the transaction, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. This represents a 28.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian J. Malloy sold 4,130 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $303.52, for a total transaction of $1,253,537.60. Following the transaction, the chief operating officer directly owned 78,875 shares in the company, valued at $23,940,140. The trade was a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 79,358 shares of company stock worth $24,254,008. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRS. Jones Trading assumed coverage on Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective on the stock. BTIG Research boosted their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft set a $425.00 price objective on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $373.43.

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.