Handelsbanken Fonder AB Has $1.70 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Handelsbanken Fonder AB lessened its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the basic materials company's stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Carpenter Technology were worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its stake in Carpenter Technology by 109.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after buying an additional 127 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Carpenter Technology in the 4th quarter valued at $44,000. Versant Capital Management Inc boosted its stake in Carpenter Technology by 27.3% in the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after buying an additional 77 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Carpenter Technology by 54.9% in the 1st quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock valued at $85,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $240.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Finally, Benchmark boosted their price target on Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $229.75.

Carpenter Technology Stock Down 0.2%

NYSE:CRS opened at $248.00 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 0.93 and a beta of 1.37. The stock has a 50-day moving average price of $212.39 and a two-hundred day moving average price of $196.16. Carpenter Technology Co. has a 1 year low of $95.17 and a 1 year high of $256.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The business had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. Carpenter Technology's revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.32%. Carpenter Technology's dividend payout ratio is 11.33%.

Carpenter Technology announced that its board has initiated a stock repurchase plan on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total value of $678,566.78. Following the sale, the director now owns 6,732 shares in the company, valued at $1,330,647.12. This represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.90% of the company's stock.

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.

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