New Age Alpha Advisors LLC Buys 9,809 Shares of Carpenter Technology Corporation $CRS

New Age Alpha Advisors LLC increased its stake in Carpenter Technology Corporation (NYSE:CRS) by 430.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,090 shares of the basic materials company’s stock after purchasing an additional 9,809 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Carpenter Technology were worth $3,806,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its holdings in Carpenter Technology by 129.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,054 shares of the basic materials company’s stock worth $332,000 after purchasing an additional 595 shares during the period. Lisanti Capital Growth LLC raised its holdings in Carpenter Technology by 47.1% in the 4th quarter. Lisanti Capital Growth LLC now owns 28,625 shares of the basic materials company’s stock worth $9,012,000 after purchasing an additional 9,160 shares during the period. Legato Capital Management LLC raised its holdings in Carpenter Technology by 66.5% in the 4th quarter. Legato Capital Management LLC now owns 14,373 shares of the basic materials company’s stock worth $4,525,000 after purchasing an additional 5,739 shares during the period. Axxcess Wealth Management LLC raised its holdings in Carpenter Technology by 221.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 4,426 shares of the basic materials company’s stock worth $1,394,000 after purchasing an additional 3,048 shares during the period. Finally, Kingdom Financial Group LLC. bought a new position in Carpenter Technology in the 4th quarter worth $472,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Susquehanna raised their target price on Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a report 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 report on Monday, May 4th. BTIG Research raised their target price on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. KeyCorp raised their target price on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $441.00.

Carpenter Technology Trading Down 0.0%

Shares of CRS stock opened at $434.10 on Tuesday. Carpenter Technology Corporation has a 52-week low of $219.58 and a 52-week high of $475.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The firm has a market capitalization of $21.57 billion, a PE ratio of 45.69, a PEG ratio of 1.61 and a beta of 1.24. The stock has a fifty day simple moving average of $414.30 and a two-hundred day simple moving average of $367.15.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the prior year, the business posted $1.88 EPS. Carpenter Technology’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts predict that Carpenter Technology Corporation will post 10.49 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is presently 8.42%.

Insiders Place Their Bets

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the 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 completion of the sale, the director owned 750 shares of the company’s stock, valued at $317,895. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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.