Fisher Asset Management LLC Acquires 1,860 Shares of Carpenter Technology Corporation $CRS

Fisher Asset Management LLC raised its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 285,507 shares of the basic materials company’s stock after acquiring an additional 1,860 shares during the period. Fisher Asset Management LLC’s holdings in Carpenter Technology were worth $89,889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Miller Wealth Management LLC lifted its holdings in shares of Carpenter Technology by 2.4% in the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock worth $444,000 after buying an additional 33 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Carpenter Technology by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after acquiring an additional 34 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Carpenter Technology by 17.9% in the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 36 shares during the last quarter. Independent Advisor Alliance lifted its stake in Carpenter Technology by 0.6% in the 3rd quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company’s stock worth $1,639,000 after purchasing an additional 43 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its stake in Carpenter Technology by 57.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Activity

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

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $434.10 on Tuesday. The stock has a market cap of $21.57 billion, a price-to-earnings ratio of 45.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The stock has a 50 day moving average price of $414.30 and a 200-day moving average price of $367.15. Carpenter Technology Corporation has a one year low of $219.58 and a one year high of $475.69.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.Carpenter Technology’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. Equities analysts expect that Carpenter Technology Corporation will post 10.49 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is presently 8.42%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRS. BTIG Research raised their price objective on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TD Cowen increased their price target on Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price target 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, KeyCorp lifted their price objective on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $441.00.

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.