Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Carpenter Technology Co. (NYSE:CRS)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 50,429 shares of the basic materials company's stock, valued at approximately $8,558,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.10% of Carpenter Technology as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in Carpenter Technology by 28.3% in the fourth quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after purchasing an additional 979,313 shares during the last quarter. SurgoCap Partners LP boosted its stake in Carpenter Technology by 117.6% in the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock worth $244,734,000 after buying an additional 779,357 shares during the last quarter. Norges Bank purchased a new stake in Carpenter Technology in the 4th quarter valued at about $100,505,000. Allspring Global Investments Holdings LLC grew its holdings in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after buying an additional 479,985 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Carpenter Technology during the 4th quarter valued at about $69,285,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

CRS has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $168.00.

Insider Activity at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the company's 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 completion of the sale, the director now owns 6,732 shares of the company's stock, valued at $1,330,647.12. This represents a 33.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Carpenter Technology Trading Down 0.3%

Shares of NYSE:CRS traded down $0.77 during trading on Wednesday, reaching $245.53. 186,550 shares of the stock were exchanged, compared to its average volume of 769,250. The firm's 50-day moving average price is $199.81 and its 200 day moving average price is $192.82. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 46.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. Carpenter Technology Co. has a 12-month low of $95.17 and a 12-month high of $250.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

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

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.33%. Carpenter Technology's dividend payout ratio (DPR) is 11.33%.

Carpenter Technology declared that its board has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Carpenter Technology 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.