3,435 Carpenter Technology Corporation $CRS Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its stake in Carpenter Technology Corporation (NYSE:CRS) by 161.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,565 shares of the basic materials company’s stock after acquiring an additional 3,435 shares during the period. Kestra Private Wealth Services LLC’s holdings in Carpenter Technology were worth $2,164,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Carpenter Technology during the second quarter valued at approximately $3,834,623,000. SurgoCap Partners LP bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $423,444,000. Jennison Associates LLC bought a new stake in shares of Carpenter Technology in the 1st quarter valued at approximately $317,411,000. Wellington Management Group LLP boosted its holdings in shares of Carpenter Technology by 82.2% in the 2nd quarter. Wellington Management Group LLP now owns 506,167 shares of the basic materials company’s stock worth $312,224,000 after purchasing an additional 228,290 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $231,252,000. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $279.04 on Friday. The company has a current ratio of 3.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.32. Carpenter Technology Corporation has a 12 month low of $270.49 and a 12 month high of $625.98. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.03 and a beta of 1.43. The firm’s 50-day moving average is $385.28 and its 200 day moving average is $441.63.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.21. The business had revenue of $634.80 million during the quarter, compared to the consensus estimate of $830.85 million. Carpenter Technology had a net margin of 17.87% and a return on equity of 27.50%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.43 earnings per share. Research analysts predict that Carpenter Technology Corporation will post 13.41 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio is currently 7.05%.

Insider Transactions at Carpenter Technology

In related news, Director Ramin Younessi sold 438 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $493.15, for a total transaction of $215,999.70. Following the completion of the sale, the director directly owned 1,953 shares of the company’s stock, valued at approximately $963,121.95. This trade represents a 18.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony R. Thene sold 57,456 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total value of $27,802,958.40. Following the transaction, the chief executive officer owned 439,631 shares of the company’s stock, valued at approximately $212,737,440.90. The trade was a 11.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 112,996 shares of company stock worth $54,644,436. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRS. Susquehanna reissued a “positive” rating and set a $450.00 target price on shares of Carpenter Technology in a research report on Friday, October 23rd. Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. TD Cowen lowered their price target on Carpenter Technology from $650.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings cut shares of Carpenter Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $476.43.

Carpenter Technology Profile

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.