Mutual of America Capital Management LLC Sells 1,732 Shares of Carpenter Technology Corporation $CRS

Mutual of America Capital Management LLC cut its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,023 shares of the basic materials company’s stock after selling 1,732 shares during the period. Mutual of America Capital Management LLC’s holdings in Carpenter Technology were worth $5,653,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Carpenter Technology during the 2nd quarter valued at about $28,000. Root Financial Partners LLC bought a new position in Carpenter Technology during the third quarter valued at approximately $41,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Carpenter Technology by 54.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Headlands Technologies LLC bought a new stake in Carpenter Technology in the 2nd quarter worth approximately $43,000. Finally, Rakuten Securities Inc. purchased a new stake in Carpenter Technology during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 5.1%

NYSE CRS opened at $331.13 on Thursday. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $355.00. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $16.50 billion, a P/E ratio of 40.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.29. The stock’s 50-day moving average price is $324.36 and its 200-day moving average price is $286.35.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders 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 is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio is presently 9.78%.

Insiders Place Their Bets

In other news, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the sale, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. This trade represents a 28.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian J. Malloy sold 4,130 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total transaction of $1,253,537.60. Following the completion of the transaction, the chief operating officer directly owned 78,875 shares of the company’s stock, 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. Over the last three months, insiders sold 79,358 shares of company stock valued at $24,254,008. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CRS. TD Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Jones Trading assumed coverage on Carpenter Technology in a research note on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price target for the company. KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft set a $425.00 price objective on shares of Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.14.

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.