GAMMA Investing LLC Increases Stake in Carpenter Technology Co. (NYSE:CRS)

GAMMA Investing LLC raised its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 19,404.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 479,221 shares of the basic materials company's stock after purchasing an additional 476,764 shares during the quarter. GAMMA Investing LLC owned 0.96% of Carpenter Technology worth $86,825,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CRS. Kestra Investment Management LLC bought a new stake in shares of Carpenter Technology in the 4th quarter valued at $25,000. CIBC Private Wealth Group LLC grew its holdings in Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after acquiring an additional 127 shares during the period. Ameriflex Group Inc. bought a new position in shares of Carpenter Technology in the 4th quarter worth about $44,000. Versant Capital Management Inc lifted its stake 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 valued at $65,000 after purchasing an additional 77 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock valued at $97,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total value of $678,566.78. Following the sale, the director now directly owns 6,732 shares in the company, valued at $1,330,647.12. This represents a 33.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company's stock.

Carpenter Technology Stock Up 0.3%

CRS stock traded up $0.84 during trading on Thursday, reaching $247.44. The stock had a trading volume of 174,221 shares, compared to its average volume of 857,511. The company's 50 day moving average is $201.13 and its two-hundred day moving average is $193.19. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a one year low of $95.17 and a one year high of $248.73. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 0.93 and a beta of 1.33.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced 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. The business had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology announced that its board has authorized a stock buyback plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's payout ratio is currently 11.33%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $240.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.00.

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.