Calamos Advisors LLC Acquires 10,270 Shares of Carpenter Technology Corporation $CRS

Key Points

• Calamos Advisors LLC increased its stake in Carpenter Technology (NYSE:CRS) by 167.6% in Q4, buying an additional 10,270 shares to hold 16,398 shares valued at about $5.16 million, according to its 13F filing.
• Carpenter reported quarterly EPS of $2.33, beating the $2.20 consensus, with revenue of $728 million (up 7.5% year-over-year), and sell-side analysts project roughly 10.29 EPS for the current year.
• About 92.03% of CRS is owned by institutional investors while insiders sold 22,300 shares (~$8.66 million) in the last quarter; the company also announced a quarterly dividend of $0.20 (annualized $0.80, ~0.2% yield).

Calamos Advisors LLC increased its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 167.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,398 shares of the basic materials company's stock after purchasing an additional 10,270 shares during the quarter. Calamos Advisors LLC's holdings in Carpenter Technology were worth $5,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ion Asset Management Ltd. purchased a new stake in Carpenter Technology during the 3rd quarter valued at approximately $4,027,000. Kinetic Partners Management LP lifted its holdings in shares of Carpenter Technology by 15.5% in the third quarter. Kinetic Partners Management LP now owns 386,500 shares of the basic materials company's stock worth $94,901,000 after buying an additional 51,800 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Carpenter Technology by 4.0% during the third quarter. American Century Companies Inc. now owns 467,702 shares of the basic materials company's stock worth $114,841,000 after acquiring an additional 18,201 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Carpenter Technology by 77.9% during the third quarter. WCM Investment Management LLC now owns 357,498 shares of the basic materials company's stock worth $86,261,000 after acquiring an additional 156,554 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Carpenter Technology during the third quarter valued at $674,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

CRS opened at $427.89 on Monday. The business has a fifty day moving average of $400.78 and a 200 day moving average of $346.80. The stock has a market cap of $21.31 billion, a P/E ratio of 49.70, a PEG ratio of 1.65 and a beta of 1.24. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. Carpenter Technology Corporation has a 52-week low of $188.12 and a 52-week high of $459.18.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.13. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. During the same quarter in the previous year, the firm posted $1.66 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Carpenter Technology Corporation will post 10.29 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology's payout ratio is presently 9.29%.

Insider Activity at Carpenter Technology

In other Carpenter Technology 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 of the company's stock, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James D. Dee sold 15,800 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total value of $6,190,124.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,300 shares of company stock valued at $8,664,044. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRS. Susquehanna started coverage on Carpenter Technology in a report on Tuesday, March 3rd. They issued a "positive" rating and a $470.00 target price on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. KeyCorp raised their price target on Carpenter Technology from $380.00 to $453.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. BTIG Research lifted their price objective on Carpenter Technology from $365.00 to $375.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Wall Street Zen raised Carpenter Technology from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and a consensus price target of $403.11.

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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