Severin Investments LLC Purchases New Holdings in Carpenter Technology Corporation $CRS

Severin Investments LLC acquired a new position in Carpenter Technology Corporation (NYSE:CRS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,642 shares of the basic materials company’s stock, valued at approximately $403,000.

Several other institutional investors have also added to or reduced their stakes in CRS. Swiss Life Asset Management Ltd boosted its position in shares of Carpenter Technology by 75.9% during the third quarter. Swiss Life Asset Management Ltd now owns 2,292 shares of the basic materials company’s stock valued at $563,000 after buying an additional 989 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Carpenter Technology by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 208,919 shares of the basic materials company’s stock worth $51,298,000 after buying an additional 10,148 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Carpenter Technology by 4.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,387 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 106 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $586,000. Finally, Sunbelt Securities Inc. purchased a new position in Carpenter Technology during the 3rd quarter valued at $48,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 1.3%

Shares of NYSE CRS opened at $386.53 on Thursday. 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 business has a fifty day simple moving average of $362.44 and a two-hundred day simple moving average of $314.78. The firm has a market cap of $19.25 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $412.31.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 EPS. Analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s dividend payout ratio is 9.29%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRS. BTIG Research increased their target price on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Susquehanna assumed coverage on shares of Carpenter Technology in a research note on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.50.

Insider Activity

In other news, SVP James D. Dee sold 15,800 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president owned 73,739 shares in the company, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the completion of the sale, the director directly owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is owned by company insiders.

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.