Carpenter Technology Corporation (NYSE:CRS) Position Increased by Cavalier Investments LLC

Cavalier Investments LLC lifted its holdings in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,200 shares of the basic materials company's stock after buying an additional 9,164 shares during the quarter. Carpenter Technology accounts for 3.2% of Cavalier Investments LLC's portfolio, making the stock its 10th biggest holding. Cavalier Investments LLC owned 0.10% of Carpenter Technology worth $9,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRS. Sanctuary Advisors LLC purchased a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $193,000. Ieq Capital LLC increased its position in shares of Carpenter Technology by 105.0% in the fourth quarter. Ieq Capital LLC now owns 2,761 shares of the basic materials company's stock valued at $469,000 after buying an additional 1,414 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Carpenter Technology during the 4th quarter worth $500,000. Amalgamated Bank boosted its position in shares of Carpenter Technology by 55.1% in the 4th quarter. Amalgamated Bank now owns 22,731 shares of the basic materials company's stock worth $3,858,000 after buying an additional 8,076 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Carpenter Technology by 5.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 15,918 shares of the basic materials company's stock valued at $2,701,000 after acquiring an additional 866 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Activity

In related news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total transaction of $678,566.78. Following the sale, the director now directly owns 6,732 shares in the company, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anastasios John Hart sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $243.72, for a total value of $243,720.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company's stock.

Carpenter Technology Trading Up 0.1%

Shares of NYSE:CRS traded up $0.35 during trading on Monday, reaching $276.17. The stock had a trading volume of 917,184 shares, compared to its average volume of 921,037. The company has a quick ratio of 1.89, a current ratio of 3.75 and a debt-to-equity ratio of 0.39. The stock has a market cap of $13.75 billion, a P/E ratio of 39.12, a PEG ratio of 1.16 and a beta of 1.37. The business has a fifty day moving average price of $230.45 and a 200-day moving average price of $201.13. Carpenter Technology Corporation has a fifty-two week low of $103.37 and a fifty-two week high of $279.51.

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

Carpenter Technology declared that its board has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Carpenter Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.