Alua Capital Management LP Acquires Shares of 123,662 Carpenter Technology Co. (NYSE:CRS)

Alua Capital Management LP acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 123,662 shares of the basic materials company's stock, valued at approximately $20,987,000. Carpenter Technology makes up 1.3% of Alua Capital Management LP's investment portfolio, making the stock its 17th largest holding. Alua Capital Management LP owned approximately 0.25% of Carpenter Technology at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRS. Barclays PLC increased its stake in Carpenter Technology by 471.1% in the 3rd quarter. Barclays PLC now owns 101,745 shares of the basic materials company's stock worth $16,236,000 after acquiring an additional 83,930 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology in the third quarter worth $80,000. Tidal Investments LLC raised its stake in Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock valued at $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Franklin Resources Inc. lifted its position in Carpenter Technology by 9.7% during the third quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company's stock valued at $57,891,000 after purchasing an additional 32,442 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Carpenter Technology by 17.0% in the 4th quarter. GAMMA Investing LLC now owns 2,457 shares of the basic materials company's stock worth $417,000 after buying an additional 357 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $213.34 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The firm has a market capitalization of $10.62 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. Carpenter Technology Co. has a 1-year low of $95.17 and a 1-year high of $215.25. The company's 50-day moving average is $183.27 and its 200 day moving average is $183.06.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.14. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $729.67 million. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is presently 11.33%.

Carpenter Technology announced that its board has authorized a share repurchase program on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRS. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $240.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $168.00.

Insiders Place Their Bets

In other news, Director I Martin Inglis sold 3,433 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total value of $678,566.78. Following the completion of the sale, the director now owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This represents a 33.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.

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