Carpenter Technology Corporation $CRS Shares Sold by Junto Capital Management LP

by · The Cerbat Gem

Junto Capital Management LP lowered its stake in Carpenter Technology Corporation (NYSE:CRS – Free Report) by 72.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 33,043 shares of the basic materials company’s stock after selling 87,314 shares during the period. Junto Capital Management LP’s holdings in Carpenter Technology were worth $20,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Woodline Partners LP acquired a new position in shares of Carpenter Technology in the 1st quarter worth $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Carpenter Technology by 1.7% during the first 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 valued at $18,985,000 after purchasing an additional 1,701 shares during 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 worth $836,000 after purchasing an additional 314 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Carpenter Technology during the 2nd quarter worth about $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Carpenter Technology in the second quarter worth approximately $533,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. KeyCorp reduced their target price on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. TD Cowen increased their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $577.25.

Get Our Latest Research Report on CRS

Carpenter Technology Stock Up 0.1%

Shares of NYSE CRS opened at $459.16 on Thursday. The stock has a market cap of $22.76 billion, a PE ratio of 43.65, a PEG ratio of 1.62 and a beta of 1.26. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The business has a fifty day moving average of $537.27 and a two-hundred day moving average of $479.72.

Carpenter Technology (NYSE:CRS – Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The company had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. During the same quarter in the prior year, the business earned $2.21 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Carpenter Technology Corporation will post 13.28 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is presently 7.60%.

Insiders Place Their Bets

In related news, Director Steven E. Karol sold 3,275 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $474.08, for a total value of $1,552,612.00. Following the completion of the sale, the director owned 177,000 shares of the company’s stock, valued at $83,912,160. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Tony R. Thene sold 57,456 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the completion of the sale, the chief executive officer directly owned 439,631 shares of the company’s stock, valued at approximately $212,737,440.90. This represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 112,996 shares of company stock valued at $54,644,436. Insiders own 2.90% of the company’s stock.

About Carpenter Technology

(Free Report)

Carpenter Technology Corporation is a manufacturer of premium specialty alloys and engineered materials for demanding applications. The company develops and produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, wear, and stress.

Its products are used in the aerospace and defense, medical, energy, transportation, industrial, and consumer sectors. Carpenter also provides specialty manufacturing capabilities, including additive manufacturing powders, precision-engineered components, and materials tailored to specific customer requirements.

Featured Articles

Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Corporation (NYSE:CRS – Free Report).