Ashton Thomas Private Wealth LLC Grows Position in Carpenter Technology Corporation $CRS

Ashton Thomas Private Wealth LLC grew its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 98.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,652 shares of the basic materials company’s stock after acquiring an additional 2,302 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Carpenter Technology were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CRS. Woodline Partners LP purchased a new stake in shares of Carpenter Technology in the first quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Carpenter Technology by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock worth $18,985,000 after purchasing an additional 1,701 shares in the last quarter. Focus Partners Wealth increased its stake in Carpenter Technology by 7.3% in the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after buying an additional 314 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Carpenter Technology by 7.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,300 shares of the basic materials company’s stock worth $2,847,000 after buying an additional 700 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $646,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $365.85 on Friday. The company has a market capitalization of $18.22 billion, a P/E ratio of 42.49, a P/E/G ratio of 1.38 and a beta of 1.30. The business has a fifty day simple moving average of $326.86 and a two-hundred day simple moving average of $288.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $370.59.

Carpenter Technology (NYSE:CRS) last posted its quarterly 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 return on equity of 23.63% and a net margin of 14.77%.The company had revenue of $589.10 million during the quarter, compared to the consensus estimate of $733.76 million. During the same quarter in the prior year, the company earned $1.66 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.29%.

Insider Activity

In related news, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction that occurred 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 approximately $3,082,072.50. This represents a 28.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian J. Malloy sold 43,688 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the completion of the transaction, the chief operating officer directly owned 78,875 shares of the company’s stock, valued at approximately $24,013,493.75. This trade represents a 35.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,358 shares of company stock valued at $24,254,008 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. TD Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Finally, KeyCorp raised shares of 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. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.43.

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.