Susquehanna Fundamental Investments LLC Purchases Shares of 3,968 Carpenter Technology Corporation $CRS

Susquehanna Fundamental Investments LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,968 shares of the basic materials company’s stock, valued at approximately $2,448,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $28,000. Keating Financial Advisory Services Inc. purchased a new stake in Carpenter Technology during the second quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Carpenter Technology in the first quarter valued at approximately $30,000. SJS Investment Consulting Inc. boosted its stake in Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 36 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Carpenter Technology in the second quarter worth $43,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 0.9%

Shares of Carpenter Technology stock opened at $472.19 on Wednesday. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $625.98. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.68 and a beta of 1.26. The firm’s 50 day simple moving average is $553.33 and its two-hundred day simple moving average is $475.93.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. The business had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 earnings per share. Analysts predict that Carpenter Technology Corporation will post 13.28 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 7.60%.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, CEO Tony R. Thene sold 57,456 shares of Carpenter Technology stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the completion of the sale, the chief executive officer owned 439,631 shares of the company’s stock, valued at approximately $212,737,440.90. The trade was a 11.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ramin Younessi sold 438 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the sale, the director owned 1,953 shares in the company, valued at approximately $963,121.95. The trade was a 18.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 109,721 shares of company stock valued at $53,091,824. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRS. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company raised their price objective on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. KeyCorp dropped their target price on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Zacks Research raised Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. decreased their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Carpenter Technology currently has an average rating of “Buy” and a consensus price target of $577.25.

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.