Fiduciary Alliance LLC Makes New $1.63 Million Investment in Carpenter Technology Corporation $CRS

Fiduciary Alliance LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,887 shares of the basic materials company’s stock, valued at approximately $1,627,000.

A number of other large investors have also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in Carpenter Technology by 37.1% in the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock worth $381,869,000 after acquiring an additional 570,441 shares during the last quarter. Egerton Capital UK LLP bought a new stake in shares of Carpenter Technology during the first quarter valued at approximately $329,727,000. Advent International L.P. raised its holdings in shares of Carpenter Technology by 12.1% during the first quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock valued at $145,819,000 after buying an additional 87,186 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Carpenter Technology by 4.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 619,157 shares of the basic materials company’s stock valued at $113,114,000 after buying an additional 27,123 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Carpenter Technology by 13.9% during the first quarter. American Century Companies Inc. now owns 588,889 shares of the basic materials company’s stock valued at $106,695,000 after buying an additional 71,747 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark lifted their price target on Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, June 9th. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Thursday, June 12th. BTIG Research reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $278.33.

Carpenter Technology Trading Down 0.1%

NYSE CRS opened at $241.15 on Wednesday. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $290.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.10 and a beta of 1.52. The firm’s 50 day moving average price is $256.21 and its two-hundred day moving average price is $228.39.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. The firm had revenue of $755.60 million for the quarter, compared to analysts’ expectations of $790.73 million. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 EPS. Equities analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Tuesday, August 26th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is 10.78%.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares of the company’s stock, valued at $44,240,400. The trade was a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony R. Thene sold 19,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the transaction, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at approximately $131,074,304.81. This represents a 3.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,124 shares of company stock valued at $6,890,250. 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.