Koshinski Asset Management Inc. Purchases New Stake in Carpenter Technology Corporation (NYSE:CRS)

Koshinski Asset Management Inc. acquired a new stake in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,289 shares of the basic materials company's stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV boosted its position in Carpenter Technology by 10.7% during the 1st quarter. KBC Group NV now owns 2,096 shares of the basic materials company's stock worth $380,000 after acquiring an additional 202 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Carpenter Technology by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 619,157 shares of the basic materials company's stock worth $113,114,000 after acquiring an additional 27,123 shares during the period. Highland Capital Management LLC acquired a new position in Carpenter Technology during the 1st quarter worth $256,000. Cavalier Investments LLC boosted its position in Carpenter Technology by 21.8% during the 1st quarter. Cavalier Investments LLC now owns 51,200 shares of the basic materials company's stock worth $9,276,000 after acquiring an additional 9,164 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Carpenter Technology by 514.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 8,786 shares of the basic materials company's stock worth $1,592,000 after acquiring an additional 7,356 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRS. Cowen restated a "buy" rating on shares of Carpenter Technology in a report on Thursday, June 12th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, Benchmark upped their price objective on Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of "Moderate Buy" and an average target price of $278.33.

Insider Transactions at Carpenter Technology

In related news, Director I Martin Inglis sold 3,433 shares of Carpenter Technology stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total value of $678,566.78. Following the transaction, the director owned 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anastasios John Hart sold 1,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $243.72, for a total value of $243,720.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company's stock.

Carpenter Technology Trading Up 0.3%

Shares of Carpenter Technology stock traded up $0.86 on Monday, reaching $280.44. 1,457,335 shares of the company were exchanged, compared to its average volume of 809,564. The company has a current ratio of 3.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.39. Carpenter Technology Corporation has a fifty-two week low of $105.00 and a fifty-two week high of $282.99. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39. The stock has a fifty day moving average price of $241.04 and a 200-day moving average price of $205.58.

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 analysts' consensus estimates of $1.74 by $0.14. The firm had revenue of $727.00 million for the quarter, compared to analysts' expectations of $729.67 million. Carpenter Technology had a return on equity of 21.16% and a net margin of 12.26%. Carpenter Technology's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. On average, analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.29%. Carpenter Technology's dividend payout ratio is currently 11.33%.

Carpenter Technology declared that its board has authorized a stock repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.