Carpenter Technology Corporation $CRS Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 952,325 shares of the basic materials company’s stock after selling 137,588 shares during the period. Dimensional Fund Advisors LP’s holdings in Carpenter Technology were worth $233,818,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CRS. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology in the second quarter valued at $28,000. Headlands Technologies LLC bought a new position in Carpenter Technology during the second quarter valued at about $43,000. Rakuten Securities Inc. acquired a new position in Carpenter Technology during the second quarter worth about $45,000. Root Financial Partners LLC bought a new stake in Carpenter Technology in the third quarter worth about $41,000. Finally, MassMutual Private Wealth & Trust FSB raised 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 acquiring an additional 60 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRS shares. JPMorgan Chase & Co. raised their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. BTIG Research raised their target price on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Finally, KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a report on Thursday, November 13th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $385.50.

Insider Activity

In related news, SVP James D. Dee sold 15,800 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the transaction, the senior vice president directly owned 73,739 shares of the company’s stock, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian J. Malloy sold 4,130 shares of the stock in a transaction dated 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 directly owned 78,875 shares of the company’s stock, valued at approximately $23,940,140. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Price Performance

NYSE CRS opened at $386.39 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 $19.25 billion, a PE ratio of 44.88, a PEG ratio of 1.52 and a beta of 1.22. The stock’s 50-day moving average price is $353.26 and its two-hundred day moving average price is $306.70.

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 Announces Dividend

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%.

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.