Machina Capital S.A.S. Invests $937,000 in Carpenter Technology Corporation $CRS

Machina Capital S.A.S. acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,815 shares of the basic materials company’s stock, valued at approximately $937,000.

A number of other institutional investors also recently added to or reduced their stakes in CRS. Prudential Financial Inc. raised its position in shares of Carpenter Technology by 43.3% in the 2nd quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock valued at $15,500,000 after purchasing an additional 16,954 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Carpenter Technology during the 3rd quarter valued at approximately $1,373,000. Schroder Investment Management Group raised its holdings in shares of Carpenter Technology by 11.1% in the second quarter. Schroder Investment Management Group now owns 57,625 shares of the basic materials company’s stock worth $15,926,000 after buying an additional 5,757 shares during the last quarter. Whitaker Myers Wealth Managers LTD. acquired a new stake in shares of Carpenter Technology during the third quarter worth $797,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Carpenter Technology by 15.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock valued at $138,328,000 after buying an additional 71,872 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 1.4%

Carpenter Technology stock opened at $334.34 on Thursday. The business’s 50-day moving average price is $325.15 and its 200 day moving average price is $287.76. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $355.00.

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

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Tuesday, January 27th will be given 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, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CRS shares. Deutsche Bank Aktiengesellschaft set a $425.00 target price on Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price for the company in a report on Thursday, November 13th. Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, BTIG Research increased their price target on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.43.

Insiders Place Their Bets

In related news, VP Elizabeth A. Socci sold 3,900 shares of Carpenter Technology stock in a transaction dated 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 owned 9,594 shares in the company, valued at $3,082,072.50. The trade was a 28.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian J. Malloy sold 43,688 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was 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 directly owned 78,875 shares of the company’s stock, valued at $24,013,493.75. The trade was a 35.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,358 shares of company stock valued at $24,254,008 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

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.