Baader Bank Aktiengesellschaft Purchases New Shares in Carpenter Technology Corporation $CRS

Key Points

• Baader Bank disclosed a new fourth-quarter stake in Carpenter Technology, buying 5,291 shares valued at about $1.655 million.
• Institutional ownership remains very high, with hedge funds and other investors holding about 92.03% of the company; several firms also recently boosted their positions.
• Carpenter Technology posted better-than-expected quarterly EPS of $2.77, while analysts have stayed constructive overall, with a Moderate Buy consensus and an average price target of $438.78.

Baader Bank Aktiengesellschaft purchased a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,291 shares of the basic materials company's stock, valued at approximately $1,655,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Aspex Management HK Ltd acquired a new stake in Carpenter Technology during the 3rd quarter worth $136,215,000. TOMS Capital Investment Management LP acquired a new stake in Carpenter Technology during the 2nd quarter worth $106,683,000. UBS Group AG boosted its stake in Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company's stock worth $190,951,000 after purchasing an additional 382,865 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Carpenter Technology by 111.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company's stock worth $151,731,000 after purchasing an additional 325,919 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Carpenter Technology by 244.3% during the 2nd quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company's stock worth $113,669,000 after purchasing an additional 291,829 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Buying and Selling at Carpenter Technology

In related news, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the transaction, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the completion of the transaction, the senior vice president owned 73,739 shares in the company, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,865 shares of company stock valued at $14,196,607. Insiders own 2.90% of the company's stock.

Carpenter Technology Stock Up 2.8%

Shares of CRS opened at $436.38 on Thursday. The stock has a market capitalization of $21.68 billion, a PE ratio of 45.93, a P/E/G ratio of 1.59 and a beta of 1.24. Carpenter Technology Corporation has a 1 year low of $219.58 and a 1 year high of $475.69. 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 company's 50-day simple moving average is $410.39 and its 200-day simple moving average is $361.10.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $655.60 million for the quarter, compared to analysts' expectations of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. Analysts forecast that Carpenter Technology Corporation will post 10.43 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Carpenter Technology's payout ratio is presently 8.42%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRS. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Carpenter Technology from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Susquehanna upped their target price on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a "positive" rating in a research report on Thursday, April 30th. BTIG Research upped their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, TD Cowen upped their target price on shares of Carpenter Technology from $430.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $438.78.

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.

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