Carpenter Technology Corporation $CRS is Orser Capital Management LLC's 3rd Largest Position

Key Points

• Orser Capital Management LLC has reduced its holdings in Carpenter Technology Corporation by 6.6%, making it the fund's third-largest position at approximately $7.59 million.
• Wall Street analysts have given Carpenter Technology a Moderate Buy rating, with target prices increased by several firms, including JPMorgan, which raised it from $245.00 to $305.00.
• Carpenter Technology recently declared a quarterly dividend of $0.20, resulting in an annualized yield of 0.3%, and insiders sold a total of 28,124 shares in the past 90 days.

Orser Capital Management LLC trimmed its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 6.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,463 shares of the basic materials company's stock after selling 1,930 shares during the period. Carpenter Technology accounts for about 5.6% of Orser Capital Management LLC's investment portfolio, making the stock its 3rd largest position. Orser Capital Management LLC owned approximately 0.06% of Carpenter Technology worth $7,590,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CRS. Rise Advisors LLC bought a new stake in shares of Carpenter Technology during the first quarter worth $31,000. IMA Advisory Services Inc. bought a new position in shares of Carpenter Technology during the first quarter worth approximately $36,000. Bessemer Group Inc. boosted its holdings 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 valued at $42,000 after acquiring an additional 77 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Carpenter Technology in the 4th quarter valued at about $44,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Carpenter Technology in the first quarter worth approximately $49,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Carpenter Technology

In related news, Director I Martin Inglis sold 5,691 shares of Carpenter Technology stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the transaction, the director owned 6,732 shares in the company, valued at approximately $1,646,243.28. This trade represents a 45.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven E. Karol sold 3,433 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the sale, the director directly owned 180,000 shares of the company's stock, valued at $44,240,400. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,124 shares of company stock valued at $6,890,250. Insiders own 2.90% of the company's stock.

Carpenter Technology Stock Performance

NYSE CRS traded down $7.22 during trading hours on Friday, hitting $239.52. The company had a trading volume of 3,772,191 shares, compared to its average volume of 778,042. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. The company has a market cap of $11.94 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.52. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $290.84. The business has a 50 day moving average of $254.20 and a 200-day moving average of $229.03.

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

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Tuesday, August 26th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Carpenter Technology's payout ratio is 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.