Emerald Advisers LLC Has $24.48 Million Position in Carpenter Technology Corporation $CRS

Emerald Advisers LLC cut its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 32.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,100 shares of the basic materials company’s stock after selling 30,348 shares during the quarter. Emerald Advisers LLC’s holdings in Carpenter Technology were worth $24,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sands Capital Management LLC bought a new stake in Carpenter Technology in the fourth quarter valued at $195,731,000. Norges Bank bought a new position in shares of Carpenter Technology during the 4th quarter worth about $195,254,000. TOMS Capital Investment Management LP bought a new position in shares of Carpenter Technology during the 2nd quarter worth about $106,683,000. UBS Group AG boosted its position in shares of Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock worth $190,951,000 after purchasing an additional 382,865 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Carpenter Technology by 18.8% in the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock valued at $652,241,000 after buying an additional 327,302 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Down 2.1%

NYSE:CRS opened at $566.58 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98. The company has a market cap of $28.15 billion, a PE ratio of 59.64, a PEG ratio of 1.68 and a beta of 1.22. The firm has a 50-day moving average of $515.33 and a 200-day moving average of $424.57.

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

Carpenter Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRS shares. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. KeyCorp increased their price target on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. TD Cowen raised their price objective on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average price target of $527.38.

Insider Buying and Selling

In other news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director directly owned 750 shares in the company, valued at approximately $317,895. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by company insiders.

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.