Fiducient Advisors LLC Invests $916,000 in Carpenter Technology Corporation $CRS

Key Points

• Fiducient Advisors LLC opened a new position in Carpenter Technology during the fourth quarter, buying 2,910 shares valued at about $916,000.
• Carpenter Technology has seen continued institutional interest, with 92.03% of shares owned by institutional investors and hedge funds, though some company insiders have recently sold stock.
• The company reported better-than-expected quarterly earnings of $2.77 per share, and analysts remain broadly bullish, with nine Buy ratings and an average price target of $441.

Fiducient Advisors LLC acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,910 shares of the basic materials company's stock, valued at approximately $916,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRS. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the second quarter valued at approximately $28,000. Armstrong Advisory Group Inc. boosted its holdings in Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. Spire Wealth Management boosted its holdings in Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 84 shares in the last quarter. Headlands Technologies LLC acquired a new position in Carpenter Technology in the second quarter valued at approximately $43,000. Finally, Rakuten Securities Inc. acquired a new position in Carpenter Technology in the second quarter valued at approximately $45,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carpenter Technology

In other news, Director Anastasios John Hart sold 750 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director owned 750 shares in the company, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Marshall D. Akins sold 11,815 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president owned 18,344 shares of the company's stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $462.25 on Friday. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $475.69. The stock has a 50 day moving average of $419.52 and a two-hundred day moving average of $370.09. The stock has a market cap of $22.97 billion, a P/E ratio of 48.66, a P/E/G ratio of 1.70 and a beta of 1.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million during the quarter, compared to analysts' expectations of $797.00 million. During the same quarter in the previous year, the business earned $1.88 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Carpenter Technology Corporation will post 10.54 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, April 28th. Carpenter Technology's dividend payout ratio is 8.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BTIG Research upped their price target on Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 30th. TD Cowen upped their price target on Carpenter Technology from $450.00 to $470.00 and gave the company a "buy" rating in a report on Friday, May 22nd. KeyCorp upped their price target on Carpenter Technology from $453.00 to $459.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Wall Street Zen raised Carpenter Technology from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company upped their price target on Carpenter Technology from $400.00 to $425.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $441.00.

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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