Carpenter Technology Corporation $CRS Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,942 shares of the basic materials company’s stock after purchasing an additional 4,606 shares during the quarter. GW&K Investment Management LLC owned about 0.15% of Carpenter Technology worth $18,401,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CRS. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology in the second quarter valued at approximately $28,000. Root Financial Partners LLC bought a new stake in Carpenter Technology during the third quarter worth approximately $41,000. MassMutual Private Wealth & Trust FSB lifted its position 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 period. Headlands Technologies LLC bought a new position in Carpenter Technology during the 2nd quarter valued at $43,000. Finally, Rakuten Securities Inc. bought a new position in Carpenter Technology during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Price Performance

NYSE CRS opened at $395.14 on Friday. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $412.31. The company has a market cap of $19.68 billion, a PE ratio of 45.89, a PEG ratio of 1.62 and a beta of 1.22. The stock’s 50-day moving average price is $352.22 and its two-hundred day moving average price is $305.27.

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

Carpenter Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

CRS has been the topic of a number of research reports. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Susquehanna started coverage on Carpenter Technology in a report on Tuesday. They set a “positive” rating and a $470.00 target price on the stock. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. Finally, BTIG Research increased their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Nine equities 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $385.50.

Insider Activity

In other news, COO Brian J. Malloy sold 4,130 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 78,875 shares in the company, valued at $23,940,140. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction on 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 transaction, the senior vice president owned 73,739 shares in the company, valued at $28,889,465.42. This represents a 17.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 97,758 shares of company stock worth $31,665,177 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

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.