Focus Partners Advisor Solutions LLC Purchases Shares of 1,787 Carpenter Technology Corporation $CRS

Key Points

• Focus Partners Advisor Solutions LLC acquired 1,787 shares of Carpenter Technology Corporation, valued at approximately $324,000, during the first quarter.
• Carpenter Technology's stock has experienced a 3.0% increase recently, with a current price of $247.54 and a market capitalization of $12.34 billion.
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized dividend of $0.80 and a yield of 0.3%.

Focus Partners Advisor Solutions LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,787 shares of the basic materials company's stock, valued at approximately $324,000.

Several other large investors have also added to or reduced their stakes in CRS. Mercer Global Advisors Inc. ADV bought a new stake in Carpenter Technology in the fourth quarter valued at $212,000. BNP Paribas Financial Markets boosted its holdings in Carpenter Technology by 65.5% in the fourth quarter. BNP Paribas Financial Markets now owns 56,154 shares of the basic materials company's stock valued at $9,530,000 after acquiring an additional 22,230 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Carpenter Technology by 13.4% in the fourth quarter. Cetera Investment Advisers now owns 12,048 shares of the basic materials company's stock valued at $2,045,000 after acquiring an additional 1,423 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Carpenter Technology by 4.6% in the fourth quarter. EP Wealth Advisors LLC now owns 2,168 shares of the basic materials company's stock valued at $368,000 after acquiring an additional 95 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Carpenter Technology by 76.5% in the fourth quarter. Deutsche Bank AG now owns 50,540 shares of the basic materials company's stock valued at $8,577,000 after acquiring an additional 21,899 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Analyst Ratings Changes

CRS has been the topic of a number of research reports. Benchmark boosted their target price on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, June 9th. Cowen restated a "buy" rating on shares of Carpenter Technology in a report on Thursday, June 12th. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Finally, BTIG Research restated a "buy" rating on shares of Carpenter Technology in a report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of "Moderate Buy" and an average price target of $278.33.

Insiders Place Their Bets

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares of the company's stock, valued at approximately $44,240,400. The trade was a 1.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony R. Thene sold 19,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $244.99, for a total value of $4,654,810.00. Following the sale, the chief executive officer owned 535,019 shares of the company's stock, valued at approximately $131,074,304.81. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,124 shares of company stock valued at $6,890,250. 2.90% of the stock is owned by insiders.

Carpenter Technology Stock Down 1.3%

Shares of CRS traded down $3.09 during trading hours on Friday, hitting $240.09. The company had a trading volume of 809,199 shares, compared to its average volume of 782,164. The firm has a fifty day moving average price of $257.68 and a 200-day moving average price of $227.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 1.11 and a beta of 1.52. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $290.84.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.18. The firm had revenue of $755.60 million during 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 quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, equities research analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Tuesday, August 26th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Carpenter Technology's payout ratio is 10.78%.

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.