Carpenter Technology Corporation $CRS Stake Lessened by Benjamin Edwards Inc.

Benjamin Edwards Inc. lowered its holdings in Carpenter Technology Corporation (NYSE:CRS) by 79.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 894 shares of the basic materials company’s stock after selling 3,441 shares during the period. Benjamin Edwards Inc.’s holdings in Carpenter Technology were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Carpenter Technology by 10.1% in the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after purchasing an additional 192,533 shares in the last quarter. SurgoCap Partners LP lifted its holdings in shares of Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after purchasing an additional 272,896 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Carpenter Technology by 20.5% in the third quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock valued at $154,840,000 after purchasing an additional 107,552 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Carpenter Technology by 111.6% in the third quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock valued at $151,731,000 after purchasing an additional 325,919 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Carpenter Technology by 171.2% in the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after purchasing an additional 382,865 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $427.94 on Monday. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a 1 year low of $204.47 and a 1 year high of $475.69. The business has a fifty day simple moving average of $408.00 and a 200 day simple moving average of $356.28. The firm has a market cap of $21.26 billion, a price-to-earnings ratio of 45.05, a P/E/G ratio of 1.60 and a beta of 1.24.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. The business had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.Carpenter Technology’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 10.43 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th will be given 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 is Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is presently 8.42%.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of research analyst reports. Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. KeyCorp increased their target price on Carpenter Technology from $453.00 to $459.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. TD Cowen increased their price objective on Carpenter Technology from $430.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, BTIG Research increased their price objective on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $438.78.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director directly owned 750 shares of the company’s stock, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 34,865 shares of company stock valued at $14,196,607. Corporate insiders own 2.90% of the company’s stock.

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.