Intech Investment Management LLC Sells 37,300 Shares of Carpenter Technology Corporation $CRS

Intech Investment Management LLC lowered its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 79.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,376 shares of the basic materials company’s stock after selling 37,300 shares during the quarter. Intech Investment Management LLC’s holdings in Carpenter Technology were worth $2,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Radnor Capital Management LLC boosted its stake in shares of Carpenter Technology by 3.3% during the 2nd quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company’s stock worth $343,000 after acquiring an additional 40 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Carpenter Technology by 1.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 9,600 shares of the basic materials company’s stock worth $1,739,000 after purchasing an additional 100 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Carpenter Technology by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 10,600 shares of the basic materials company’s stock worth $1,921,000 after purchasing an additional 100 shares during the last quarter. Tlwm boosted its position in Carpenter Technology by 1.1% during the second quarter. Tlwm now owns 10,274 shares of the basic materials company’s stock worth $2,840,000 after purchasing an additional 109 shares during the period. Finally, UMB Bank n.a. grew its holdings in Carpenter Technology by 24.0% during the second quarter. UMB Bank n.a. now owns 584 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 113 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRS has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on shares of Carpenter Technology from $305.00 to $340.00 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 target price on the stock in a report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. BTIG Research raised their price target on Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $371.14.

Insider Buying and Selling at Carpenter Technology

In other news, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the sale, the director owned 180,000 shares of the company’s stock, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $324.09 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. The firm has a market capitalization of $16.15 billion, a price-to-earnings ratio of 39.62, a P/E/G ratio of 1.41 and a beta of 1.47. The company’s fifty day moving average is $274.34 and its two-hundred day moving average is $259.31. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $342.11.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 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 business had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. During the same quarter in the prior year, the business earned $1.73 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current 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 given a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend 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.