Hodges Capital Management Inc. Has $13.08 Million Stock Holdings in Carpenter Technology Corporation $CRS

Hodges Capital Management Inc. lifted its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 6.2% during the first quarter, HoldingsChannel reports. The firm owned 33,174 shares of the basic materials company’s stock after buying an additional 1,951 shares during the quarter. Carpenter Technology comprises 1.1% of Hodges Capital Management Inc.’s portfolio, making the stock its 27th largest holding. Hodges Capital Management Inc.’s holdings in Carpenter Technology were worth $13,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRS. Whittier Trust Co. of Nevada Inc. acquired a new stake in Carpenter Technology during the 1st quarter worth $30,000. SJS Investment Consulting Inc. grew its stake in Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 36 shares during the period. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the second quarter valued at about $28,000. Armstrong Advisory Group Inc. grew its stake in Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 43 shares during the period. Finally, Spire Wealth Management increased its holdings in shares of Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Up 0.0%

NYSE:CRS opened at $597.44 on Monday. The stock has a 50-day simple moving average of $495.57 and a 200 day simple moving average of $413.42. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $624.50. The company has a market cap of $29.69 billion, a PE ratio of 62.89, a PEG ratio of 1.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73.

Carpenter Technology (NYSE:CRS) last released its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The firm had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same quarter in the previous year, the business posted $1.88 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Carpenter Technology Corporation will post 10.56 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s payout ratio is currently 8.42%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Susquehanna boosted their price objective on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. TD Cowen increased their target price on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. KeyCorp raised their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Finally, BTIG Research lifted their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $481.75.

Insiders Place Their Bets

In related news, Director Anastasios John Hart sold 750 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the transaction, the director owned 750 shares in the company, valued at approximately $317,895. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.