Twin Capital Management Inc. Takes $795,000 Position in Carpenter Technology Corporation $CRS

Twin Capital Management Inc. acquired a new position in Carpenter Technology Corporation (NYSE:CRS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,236 shares of the basic materials company’s stock, valued at approximately $795,000.

Several other institutional investors and hedge funds have also made changes to their positions in CRS. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology during the second quarter worth approximately $28,000. Root Financial Partners LLC bought a new position in Carpenter Technology in the third quarter worth about $41,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Carpenter Technology by 54.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Carpenter Technology during the second quarter worth $43,000. Finally, Rakuten Securities Inc. acquired a new position in Carpenter Technology during the 2nd quarter valued at about $45,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

NYSE CRS opened at $365.85 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The company has a market cap of $18.22 billion, a P/E ratio of 42.49, a P/E/G ratio of 1.44 and a beta of 1.30. The stock has a 50-day moving average of $326.86 and a two-hundred day moving average of $288.87. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $370.59.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $589.10 million during 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%.Carpenter Technology’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. As a group, analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Tuesday, January 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is 9.29%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CRS shares. Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Jones Trading began coverage on Carpenter Technology in a report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.43.

Insider Buying and Selling at Carpenter Technology

In other news, VP Elizabeth A. Socci sold 3,900 shares of the business’s 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 sale, the vice president directly owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. The trade was a 28.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian J. Malloy sold 4,130 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total value of $1,253,537.60. Following the transaction, the chief operating officer owned 78,875 shares in the company, valued at $23,940,140. This represents a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,358 shares of company stock worth $24,254,008 over the last quarter. 2.90% of the stock is owned by company insiders.

Carpenter Technology 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.