Carpenter Technology Corporation $CRS Shares Bought by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Carpenter Technology Corporation by 34.9% in Q2, bringing its total holdings to 4,758 shares valued at approximately $1.31 million.
• Carpenter Technology's stock has an average rating of "Moderate Buy" with a target price of $278.33 following ratings from various analysts, including a "buy" rating from Weiss Ratings.
• The company recently declared a quarterly dividend of $0.20 per share, with an ex-dividend date set for October 21st, representing an annualized yield of 0.3%.

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 34.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,758 shares of the basic materials company's stock after acquiring an additional 1,232 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Carpenter Technology were worth $1,315,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRS. Rise Advisors LLC acquired a new position in Carpenter Technology during the 1st quarter worth $31,000. IMA Advisory Services Inc. acquired a new position in Carpenter Technology during the 1st quarter worth $36,000. Bessemer Group Inc. boosted its position in 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 acquiring an additional 77 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Carpenter Technology during the 1st quarter worth $49,000. Finally, Banque Cantonale Vaudoise acquired a new position in Carpenter Technology during the 1st quarter worth $71,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b+)" rating on shares of Carpenter Technology in a research report on Wednesday, October 8th. BTIG Research reissued a "buy" rating on shares of Carpenter Technology in a research note on Monday, August 4th. Finally, Zacks Research downgraded Carpenter Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $278.33.

Insider Transactions at Carpenter Technology

In other news, Director I Martin Inglis sold 5,691 shares of the business's stock in a transaction 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 sale, the director directly owned 6,732 shares of the company's stock, valued at $1,646,243.28. The trade was a 45.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony R. Thene sold 19,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the sale, the chief executive officer directly owned 535,019 shares in the company, valued at $131,074,304.81. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,124 shares of company stock valued at $6,890,250 over the last three months. Company insiders own 2.90% of the company's stock.

Carpenter Technology Stock Down 0.0%

CRS opened at $238.04 on Friday. The stock's fifty day moving average is $244.05 and its 200-day moving average is $237.23. The company has a market capitalization of $11.87 billion, a PE ratio of 32.08, a P/E/G ratio of 1.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. Carpenter Technology Corporation has a one year low of $138.61 and a one year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.18. The company had revenue of $755.60 million for the quarter, compared to analyst estimates of $790.73 million. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.Carpenter Technology's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. On average, equities analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis 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.

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