Fisher Asset Management LLC Acquires 1,860 Shares of Carpenter Technology Corporation $CRS

Fisher Asset Management LLC increased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 285,507 shares of the basic materials company’s stock after purchasing an additional 1,860 shares during the quarter. Fisher Asset Management LLC owned 0.57% of Carpenter Technology worth $89,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. State Street Corp boosted its holdings in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after acquiring an additional 192,533 shares during the last quarter. SurgoCap Partners LP boosted its holdings in 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 worth $294,377,000 after purchasing an additional 272,896 shares during the last quarter. Ameriprise Financial Inc. grew its position in Carpenter Technology by 20.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock worth $154,840,000 after purchasing an additional 107,552 shares during the period. Qube Research & Technologies Ltd grew its position in Carpenter Technology by 111.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock worth $151,731,000 after purchasing an additional 325,919 shares during the period. Finally, UBS Group AG raised its stake in Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after buying an additional 382,865 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. TD Cowen upped their price objective on Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a research report on Friday. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Wells Fargo & Company boosted their price target on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Susquehanna upped their price target on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. Nine 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 currently has a consensus rating of “Moderate Buy” and an average price target of $441.00.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $434.10 on Tuesday. The stock has a market cap of $21.57 billion, a P/E ratio of 45.69, a P/E/G ratio of 1.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The stock’s fifty day moving average is $414.30 and its 200 day moving average is $367.15. Carpenter Technology Corporation has a one year low of $219.58 and a one year high of $475.69.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. During the same quarter in the prior year, the business posted $1.88 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Carpenter Technology Corporation will post 10.49 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be issued a $0.20 dividend. 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 currently 8.42%.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the transaction, the director directly owned 750 shares in the company, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Company 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.