Future Fund LLC Takes $1.02 Million Position in Carpenter Technology Corporation $CRS

Future Fund LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,693 shares of the basic materials company’s stock, valued at approximately $1,021,000.

Several other institutional investors also recently modified their holdings of the business. D.A. Davidson & CO. purchased a new stake in Carpenter Technology in the first quarter worth about $393,000. OneDigital Investment Advisors LLC boosted its position in shares of Carpenter Technology by 43.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 1,751 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 528 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Carpenter Technology by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,798 shares of the basic materials company’s stock worth $688,000 after buying an additional 97 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Carpenter Technology by 22.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,968 shares of the basic materials company’s stock valued at $538,000 after buying an additional 553 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Carpenter Technology by 3.9% during the first quarter. M&T Bank Corp now owns 1,541 shares of the basic materials company’s stock valued at $279,000 after buying an additional 58 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent research reports. BTIG Research increased their target price on Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. TD Cowen upped their price target on shares of Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Zacks Research cut shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average price target of $369.67.

Insiders Place Their Bets

In other news, Director Steven E. Karol sold 3,433 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director directly owned 180,000 shares in the company, valued at $44,240,400. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the completion of the sale, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at $131,074,304.81. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,124 shares of company stock valued at $6,890,250. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Price Performance

NYSE CRS opened at $327.68 on Friday. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $330.50. The stock has a 50-day moving average of $260.98 and a 200 day moving average of $252.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 1.41 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm had revenue of $733.70 million for the quarter, compared to the consensus estimate of $741.18 million. During the same quarter last year, the firm posted $1.73 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.78%.

Carpenter Technology 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.