Aubrey Capital Management Ltd Acquires Shares of 3,360 Carpenter Technology Corporation $CRS

Key Points

• Aubrey Capital Management acquired 3,360 shares of Carpenter Technology in the second quarter, valued at approximately $2.07 million. Institutional investors collectively own 92.03% of the company.
• Carpenter Technology reported quarterly earnings of $3.23 per share, exceeding estimates of $3.09, while revenue rose 12.6% year over year to $679.7 million, below analysts’ $863.33 million consensus.
• Insiders have sold 109,721 shares worth approximately $53.1 million over the past three months, including a $27.8 million sale by CEO Tony R. Thene. Analysts maintain an overall “Buy” rating with an average price target of $577.25.

Aubrey Capital Management Ltd bought a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,360 shares of the basic materials company's stock, valued at approximately $2,071,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Financial Advisors Inc. boosted its stake in shares of Carpenter Technology by 18.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 619 shares of the basic materials company's stock valued at $382,000 after purchasing an additional 96 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Carpenter Technology during the second quarter worth approximately $924,000. Headlands Technologies LLC bought a new stake in shares of Carpenter Technology during the second quarter worth approximately $1,473,000. Susquehanna Fundamental Investments LLC acquired a new position in Carpenter Technology in the second quarter valued at approximately $2,448,000. Finally, Benjamin Edwards Inc. lifted its holdings in Carpenter Technology by 62.4% in the second quarter. Benjamin Edwards Inc. now owns 2,578 shares of the basic materials company's stock valued at $1,591,000 after buying an additional 991 shares during the period. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling

In related news, Director Ramin Younessi sold 438 shares of the business'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 transaction, the director directly owned 1,953 shares of the company's stock, valued at approximately $963,121.95. The trade was a 18.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony R. Thene sold 57,456 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the transaction, the chief executive officer directly owned 439,631 shares in the company, valued at $212,737,440.90. The trade was a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 109,721 shares of company stock worth $53,091,824. Company insiders own 2.90% of the company's stock.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $476.72 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23. The business has a 50-day moving average of $555.47 and a 200-day moving average of $475.21. The stock has a market capitalization of $23.63 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 1.71 and a beta of 1.25. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.09 by $0.14. The firm had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business's revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 13.09 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology's payout ratio is 7.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Carpenter Technology from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. BTIG Research upped their price objective on Carpenter Technology from $450.00 to $620.00 and gave the company a "buy" rating in a report on Friday, July 31st. Susquehanna dropped their price objective on Carpenter Technology from $680.00 to $600.00 and set a "positive" rating for the company in a report on Friday, July 31st. Zacks Research raised Carpenter Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $577.25.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

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