Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Takes $4.32 Million Position in Carpenter Technology Corporation $CRS

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the second quarter, HoldingsChannel.com reports. The fund purchased 7,000 shares of the basic materials company’s stock, valued at approximately $4,318,000. Carpenter Technology comprises 0.6% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors have also modified their holdings of CRS. State Street Corp grew its holdings in shares of Carpenter Technology by 10.1% in the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock worth $514,687,000 after acquiring an additional 192,533 shares during the period. Invesco Ltd. raised its holdings in Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after purchasing an additional 327,302 shares during the last quarter. Egerton Capital UK LLP raised its holdings in Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after purchasing an additional 178,679 shares during the last quarter. SurgoCap Partners LP boosted its position in Carpenter Technology by 29.5% during the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock worth $294,377,000 after purchasing an additional 272,896 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Carpenter Technology by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock worth $307,333,000 after purchasing an additional 78,588 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. KeyCorp lowered their target price on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Wells Fargo & Company lifted their price target on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, TD Cowen raised their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $577.25.

Carpenter Technology Stock Performance

NYSE CRS opened at $543.90 on Friday. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The business has a fifty day moving average of $569.01 and a 200-day moving average of $462.25. The stock has a market cap of $26.96 billion, a price-to-earnings ratio of 51.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. The business had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. As a group, analysts predict that Carpenter Technology Corporation will post 12.92 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.1%. Carpenter Technology’s payout ratio is presently 7.60%.

About Carpenter Technology

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.