Calamos Advisors LLC Purchases 3,553 Shares of Carpenter Technology Corporation (NYSE:CRS)

Calamos Advisors LLC grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 63.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,192 shares of the basic materials company's stock after acquiring an additional 3,553 shares during the period. Calamos Advisors LLC's holdings in Carpenter Technology were worth $1,665,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Carpenter Technology by 50.3% during the 1st quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock worth $42,000 after purchasing an additional 77 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Carpenter Technology in the fourth quarter valued at approximately $44,000. CIBC Private Wealth Group LLC raised its position in shares of Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after purchasing an additional 127 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Carpenter Technology by 27.3% in the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock worth $65,000 after purchasing an additional 77 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Carpenter Technology by 54.9% in the 1st quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock valued at $85,000 after purchasing an additional 167 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock traded up $0.86 during trading hours on Monday, hitting $280.44. 1,457,335 shares of the company were exchanged, compared to its average volume of 809,544. Carpenter Technology Corporation has a 52-week low of $105.00 and a 52-week high of $283.80. The company has a current ratio of 3.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $239.41 and a 200 day simple moving average of $204.80. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 0.94 and a beta of 1.39.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.74 by $0.14. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The company had revenue of $727.00 million during the quarter, compared to the consensus estimate of $729.67 million. During the same period last year, the firm earned $1.19 EPS. Carpenter Technology's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is presently 11.33%.

Carpenter Technology declared that its board has initiated a stock buyback plan on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRS shares. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Benchmark lifted their target price on Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Cowen restated a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Finally, Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $278.33.

Insider Buying and Selling at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total transaction of $678,566.78. Following the completion of the sale, the director owned 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anastasios John Hart sold 1,000 shares of the firm's stock in a transaction 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. 2.90% of the stock is owned by company insiders.

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.