Inceptionr LLC Sells 1,234 Shares of Carpenter Technology Corporation $CRS

by · The Cerbat Gem

Inceptionr LLC reduced its holdings in Carpenter Technology Corporation (NYSE:CRS – Free Report) by 47.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,369 shares of the basic materials company’s stock after selling 1,234 shares during the quarter. Inceptionr LLC’s holdings in Carpenter Technology were worth $378,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in Carpenter Technology by 37.1% in the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock valued at $381,869,000 after acquiring an additional 570,441 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $134,790,000. Nuveen LLC bought a new stake in shares of Carpenter Technology in the 1st quarter valued at $63,136,000. Driehaus Capital Management LLC increased its position in shares of Carpenter Technology by 79.2% during the first quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock worth $103,806,000 after buying an additional 253,163 shares during the period. Finally, Forest Avenue Capital Management LP raised its stake in Carpenter Technology by 81.8% during the first quarter. Forest Avenue Capital Management LP now owns 548,067 shares of the basic materials company’s stock worth $99,299,000 after buying an additional 246,599 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Transactions at Carpenter Technology

In other news, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the sale, the director owned 180,000 shares in the company, valued at $44,240,400. This represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Trading Down 2.9%

NYSE:CRS opened at $309.79 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $342.11. The company has a market cap of $15.43 billion, a PE ratio of 37.87, a PEG ratio of 1.41 and a beta of 1.47. The firm has a 50-day moving average of $284.44 and a 200-day moving average of $263.99.

Carpenter Technology (NYSE:CRS – Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.13 by $0.30. The firm had revenue of $733.70 million during the quarter, compared to the consensus estimate of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, equities research analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s payout ratio is currently 9.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a report on Thursday, October 30th. Jones Trading started coverage on shares of Carpenter Technology in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus price target of $371.14.

View Our Latest Research Report on CRS

Carpenter Technology Profile

(Free Report)

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.

See Also

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