Duality Advisers LP raised its position in shares of Carpenter Technology Co. (NYSE:CRS – Free Report) by 24.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,684 shares of the basic materials company’s stock after buying an additional 4,066 shares during the quarter. Duality Advisers LP’s holdings in Carpenter Technology were worth $926,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Carpenter Technology by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,644,507 shares of the basic materials company’s stock valued at $175,769,000 after buying an additional 93,159 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Carpenter Technology by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,667,615 shares of the basic materials company’s stock valued at $164,160,000 after purchasing an additional 81,470 shares during the last quarter. State Street Corp raised its position in shares of Carpenter Technology by 35.7% during the 1st quarter. State Street Corp now owns 3,358,268 shares of the basic materials company’s stock worth $140,980,000 after purchasing an additional 883,239 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of Carpenter Technology by 2.4% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,802,995 shares of the basic materials company’s stock worth $80,702,000 after purchasing an additional 41,774 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Carpenter Technology by 9.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,563,172 shares of the basic materials company’s stock worth $69,968,000 after purchasing an additional 138,171 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.
Carpenter Technology Stock Performance
Shares of CRS opened at $67.02 on Monday. The firm has a market capitalization of $3.27 billion, a PE ratio of 58.28 and a beta of 1.78. The company has a quick ratio of 1.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $59.60 and a 200 day moving average price of $52.13. Carpenter Technology Co. has a 52-week low of $31.02 and a 52-week high of $71.19.
Carpenter Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, August 21st. Carpenter Technology’s dividend payout ratio (DPR) is presently 69.57%.
Insider Transactions at Carpenter Technology
In related news, SVP Brian J. Malloy sold 10,372 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.69, for a total transaction of $619,104.68. Following the completion of the transaction, the senior vice president now owns 51,551 shares of the company’s stock, valued at $3,077,079.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Marshall D. Akins sold 1,500 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $65.00, for a total transaction of $97,500.00. Following the completion of the sale, the vice president now owns 23,008 shares in the company, valued at approximately $1,495,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian J. Malloy sold 10,372 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.69, for a total value of $619,104.68. Following the sale, the senior vice president now directly owns 51,551 shares of the company’s stock, valued at $3,077,079.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,682 shares of company stock valued at $765,650. Corporate insiders own 3.50% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on CRS shares. Northcoast Research began coverage on Carpenter Technology in a research report on Friday, August 25th. They issued a “buy” rating and a $73.00 target price on the stock. Benchmark increased their price objective on shares of Carpenter Technology from $65.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. TD Cowen boosted their target price on shares of Carpenter Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on shares of Carpenter Technology in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, TheStreet upgraded Carpenter Technology from a “c+” rating to a “b” rating in a research report on Tuesday, June 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.75.
View Our Latest Stock Report on Carpenter Technology
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.
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