Bosun Asset Management LLC Has $1.46 Million Holdings in Carpenter Technology Corporation $CRS

Key Points

• Bosun Asset Management LLC increased its stake in Carpenter Technology Corporation by 34.7% during the 1st quarter, with holdings now valued at $1.46 million.
• Institutional investors now own 92.03% of Carpenter Technology's stock, indicating strong institutional interest in the company.
• Carpenter Technology recently announced a quarterly dividend of $0.20 per share, with an announced dividend yield of 0.3%.

Bosun Asset Management LLC grew its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 34.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,042 shares of the basic materials company's stock after purchasing an additional 2,072 shares during the period. Bosun Asset Management LLC's holdings in Carpenter Technology were worth $1,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Egerton Capital UK LLP bought a new stake in shares of Carpenter Technology in the first quarter valued at about $329,727,000. SurgoCap Partners LP raised its holdings 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 valued at $244,734,000 after acquiring an additional 779,357 shares in the last quarter. Invesco Ltd. lifted its position in shares of Carpenter Technology by 37.1% in the 1st quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company's stock worth $381,869,000 after acquiring an additional 570,441 shares during the period. GAMMA Investing LLC grew its holdings in shares of Carpenter Technology by 19,404.3% during the 1st quarter. GAMMA Investing LLC now owns 479,221 shares of the basic materials company's stock worth $86,825,000 after purchasing an additional 476,764 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Carpenter Technology during the first quarter valued at approximately $63,136,000. Institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRS. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. BTIG Research reiterated a "buy" rating on shares of Carpenter Technology in a research report on Monday, August 4th. Cowen reissued a "buy" rating on shares of Carpenter Technology in a report on Thursday, June 12th. Finally, Benchmark boosted their target price on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $278.33.

Insider Transactions at Carpenter Technology

In other news, CEO Tony R. Thene sold 19,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the sale, the chief executive officer directly owned 535,019 shares of the company's stock, valued at $131,074,304.81. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anastasios John Hart sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $243.72, for a total transaction of $243,720.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,691 shares of company stock worth $6,290,207. Corporate insiders own 2.90% of the company's stock.

Carpenter Technology Trading Down 1.8%

CRS stock opened at $235.61 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.65 and a quick ratio of 2.01. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 1.10 and a beta of 1.52. The business has a fifty day moving average price of $262.02 and a 200 day moving average price of $225.53. Carpenter Technology Corporation has a fifty-two week low of $129.57 and a fifty-two week high of $290.84.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.03 by $0.18. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The company had revenue of $755.60 million for the quarter, compared to analysts' expectations of $790.73 million. During the same quarter in the prior year, the business earned $1.82 earnings per share. The business's revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Tuesday, August 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology's payout ratio is currently 10.78%.

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.

Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Corporation (NYSE:CRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.