SeaTown Holdings Pte. Ltd. Has $10.20 Million Position in Carpenter Technology Corporation $CRS

SeaTown Holdings Pte. Ltd. grew its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,555 shares of the basic materials company’s stock after purchasing an additional 8,555 shares during the quarter. Carpenter Technology comprises about 5.9% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 10th biggest holding. SeaTown Holdings Pte. Ltd. owned about 0.08% of Carpenter Technology worth $10,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology during the second quarter worth $28,000. Root Financial Partners LLC bought a new position in shares of Carpenter Technology in the 3rd quarter valued at about $41,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Carpenter Technology by 54.1% during the 3rd 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 last quarter. Headlands Technologies LLC bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $43,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total value of $1,333,920.00. Following the completion of the transaction, the director directly owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian J. Malloy sold 4,130 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the sale, the chief operating officer owned 78,875 shares of the company’s stock, valued at approximately $23,940,140. The trade was a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 81,958 shares of company stock valued at $25,475,053. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $395.86 on Thursday. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $399.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The firm has a market cap of $19.72 billion, a price-to-earnings ratio of 45.98, a P/E/G ratio of 1.54 and a beta of 1.30. The stock’s fifty day moving average price is $343.60 and its two-hundred day moving average price is $299.23.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating 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 in the prior year, the company posted $1.66 earnings per share. Carpenter Technology’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

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

Analysts Set New Price Targets

CRS has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price on the stock in a report on Thursday, November 13th. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. Finally, BTIG Research upped their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $373.43.

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.