Voya Investment Management LLC Has $73.04 Million Stake in Carpenter Technology Corporation $CRS

Voya Investment Management LLC grew its holdings in Carpenter Technology Corporation (NYSE:CRS) by 24.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 403,132 shares of the basic materials company’s stock after acquiring an additional 79,301 shares during the period. Voya Investment Management LLC’s holdings in Carpenter Technology were worth $73,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CRS. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Carpenter Technology in the fourth quarter valued at approximately $212,000. Cetera Investment Advisers boosted its stake in Carpenter Technology by 13.4% in the 4th quarter. Cetera Investment Advisers now owns 12,048 shares of the basic materials company’s stock valued at $2,045,000 after purchasing an additional 1,423 shares during the period. Deutsche Bank AG boosted its stake in Carpenter Technology by 76.5% in the 4th quarter. Deutsche Bank AG now owns 50,540 shares of the basic materials company’s stock valued at $8,577,000 after purchasing an additional 21,899 shares during the period. Gotham Asset Management LLC boosted its stake in Carpenter Technology by 54.8% in the 4th quarter. Gotham Asset Management LLC now owns 4,493 shares of the basic materials company’s stock valued at $763,000 after purchasing an additional 1,591 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in Carpenter Technology in the 4th quarter valued at $1,120,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $240.09 on Friday. The stock has a market capitalization of $11.97 billion, a PE ratio of 32.36, a P/E/G ratio of 1.11 and a beta of 1.52. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.65 and a quick ratio of 2.01. The business has a fifty day moving average price of $257.68 and a two-hundred day moving average price of $227.66. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $290.84.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The firm had revenue of $755.60 million during the quarter, compared to analysts’ expectations of $790.73 million. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.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 firm earned $1.82 EPS. As a group, equities analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 5,691 shares of Carpenter Technology stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.54, for a total value of $1,391,677.14. Following the completion of the transaction, the director directly owned 6,732 shares of the company’s stock, valued at $1,646,243.28. The trade was a 45.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Karol sold 3,433 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director directly owned 180,000 shares of the company’s stock, valued at $44,240,400. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,124 shares of company stock valued at $6,890,250 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CRS. Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Benchmark boosted their price target on Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, June 9th. BTIG Research restated a “buy” rating on shares of Carpenter Technology in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.33.

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.