Dimensional Fund Advisors LP Trims Stock Holdings in Carpenter Technology Corporation $CRS

Key Points

• Dimensional Fund Advisors trimmed its stake in Carpenter Technology (NYSE:CRS) by 12.6% in Q3, selling 137,588 shares and finishing the quarter with 952,325 shares (about 1.91% of the company, valued at roughly $233.8 million).
• Insiders have been sizable net sellers: COO Brian Malloy sold 4,130 shares and SVP James Dee sold 15,800 shares, and insiders have offloaded 97,758 shares worth about $31.7 million over the past 90 days (insiders now own 2.90%).
• Wall Street sentiment is largely positive with nine Buy and two Hold ratings and an average price target of $385.50; CRS trades near $386.39, with a 12‑month range of $138.61–$412.31 and a P/E of about 44.9.

Dimensional Fund Advisors LP lessened its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 952,325 shares of the basic materials company's stock after selling 137,588 shares during the quarter. Dimensional Fund Advisors LP owned 1.91% of Carpenter Technology worth $233,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology during the second quarter worth approximately $28,000. Headlands Technologies LLC acquired a new stake in Carpenter Technology in the second quarter valued at $43,000. Rakuten Securities Inc. acquired a new stake in Carpenter Technology in the second quarter valued at $45,000. Root Financial Partners LLC bought a new position in Carpenter Technology during the 3rd quarter valued at $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Carpenter Technology by 54.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company's stock worth $42,000 after acquiring an additional 60 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, COO Brian J. Malloy sold 4,130 shares of the firm's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $303.52, for a total transaction of $1,253,537.60. Following the transaction, the chief operating officer owned 78,875 shares of the company's stock, valued at approximately $23,940,140. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James D. Dee sold 15,800 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was 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 in the company, valued at $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 97,758 shares of company stock worth $31,665,177 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRS. Weiss Ratings reissued a "buy (b)" rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Susquehanna began coverage on Carpenter Technology in a research note on Tuesday, March 3rd. They issued a "positive" rating and a $470.00 price target for the company. TD Cowen reissued a "buy" rating on shares of Carpenter Technology in a report on Friday, November 14th. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $388.00 to $394.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Finally, Wall Street Zen upgraded Carpenter Technology from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $385.50.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $386.39 on Friday. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $412.31. The company has a market cap of $19.25 billion, a PE ratio of 44.88, a P/E/G ratio of 1.52 and a beta of 1.22. The stock has a 50 day simple moving average of $353.26 and a 200-day simple moving average of $306.70. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.20 by $0.13. The firm had revenue of $728.00 million for the quarter, compared to analysts' expectations of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. On average, equities research analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology's payout ratio is currently 9.29%.

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

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