Cwm LLC Grows Holdings in Carpenter Technology Corporation $CRS

Key Points

• Cwm LLC increased its stake in Carpenter Technology by 91.1%, buying an additional 8,628 shares to hold 18,104 shares worth about $5.7 million at the end of the quarter.
• Institutional ownership is concentrated, with firms like State Street, SurgoCap, Ameriprise, Qube and Barclays materially increasing positions; institutional investors now own about 92.03% of the stock.
• Company insiders sold a combined 22,300 shares worth ~$8.66 million last quarter (insider ownership now 2.90%); Carpenter also beat Q1 EPS estimates ($2.33 vs. $2.20) and declared a quarterly dividend of $0.20 per share.

Cwm LLC grew its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 91.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,104 shares of the basic materials company's stock after buying an additional 8,628 shares during the period. Cwm LLC's holdings in Carpenter Technology were worth $5,700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp grew its stake in Carpenter Technology by 10.1% in the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company's stock worth $514,687,000 after buying an additional 192,533 shares in the last quarter. SurgoCap Partners LP grew its stake in Carpenter Technology by 29.5% in the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company's stock worth $294,377,000 after buying an additional 272,896 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Carpenter Technology by 20.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company's stock worth $154,840,000 after buying an additional 107,552 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Carpenter Technology by 111.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company's stock worth $151,731,000 after buying an additional 325,919 shares in the last quarter. Finally, Barclays PLC grew its stake in Carpenter Technology by 5.8% in the 3rd quarter. Barclays PLC now owns 591,981 shares of the basic materials company's stock worth $145,355,000 after buying an additional 32,645 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Insiders Place Their Bets

In related news, Director Steven E. Karol sold 3,500 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the completion of the sale, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP James D. Dee sold 15,800 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the sale, the senior vice president owned 73,739 shares of the company's stock, valued at $28,889,465.42. This represents a 17.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,300 shares of company stock valued at $8,664,044 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Trading Down 2.9%

Shares of CRS opened at $439.03 on Wednesday. The firm has a market cap of $21.87 billion, a price-to-earnings ratio of 50.99, a PEG ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.26 and a current ratio of 4.25. Carpenter Technology Corporation has a fifty-two week low of $168.63 and a fifty-two week high of $459.18. The firm has a 50 day moving average price of $397.57 and a 200-day moving average price of $343.22.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.13. The firm had revenue of $728.00 million during the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 EPS. As a group, equities research analysts forecast that Carpenter Technology Corporation will post 10.3 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, April 28th. Carpenter Technology's dividend payout ratio is currently 9.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRS shares. Susquehanna started coverage on shares of Carpenter Technology in a research note on Tuesday, March 3rd. They issued a "positive" rating and a $470.00 price target for the company. Wells Fargo & Company started coverage on shares of Carpenter Technology in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price objective for the company. KeyCorp boosted their price objective on shares of Carpenter Technology from $380.00 to $453.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Wall Street Zen upgraded shares of Carpenter Technology from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Finally, BTIG Research boosted their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and an average price target of $403.11.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

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