Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Purchases New Holdings in Carpenter Technology Corporation $CRS

Key Points

• Mivtachim acquired 7,000 shares of Carpenter Technology in the second quarter, worth approximately $4.3 million, making the stock its 27th-largest holding. Institutional investors and hedge funds collectively own 92.03% of the company.
• Carpenter Technology reported quarterly EPS of $3.23, exceeding the $3.09 consensus estimate, while revenue rose 12.6% year over year to $679.7 million, below analysts’ $863.3 million forecast.
• Analysts maintain a broadly positive view, with an average rating of “Buy” and an average price target of $577.25. The company also declared a quarterly dividend of $0.20 per share, equivalent to a 0.1% annual yield.

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,000 shares of the basic materials company's stock, valued at approximately $4,318,000. Carpenter Technology comprises 0.6% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's portfolio, making the stock its 27th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Carpenter Technology by 10.1% during the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company's stock worth $514,687,000 after purchasing an additional 192,533 shares during the last quarter. Invesco Ltd. grew its position in Carpenter Technology by 18.8% in the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company's stock valued at $652,241,000 after buying an additional 327,302 shares during the last quarter. Egerton Capital UK LLP grew its position in Carpenter Technology by 13.0% in the 4th quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company's stock valued at $488,950,000 after buying an additional 178,679 shares during the last quarter. SurgoCap Partners LP increased 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 valued at $294,377,000 after buying an additional 272,896 shares during the period. Finally, Geode Capital Management LLC increased its stake in Carpenter Technology by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company's stock valued at $307,333,000 after buying an additional 78,588 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 1.6%

Shares of CRS stock opened at $543.90 on Friday. The business's fifty day moving average price is $569.01 and its 200 day moving average price is $462.25. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. The firm has a market capitalization of $26.96 billion, a PE ratio of 51.70, a P/E/G ratio of 1.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The firm had revenue of $679.70 million during the quarter, compared to analysts' expectations of $863.33 million. During the same quarter in the prior year, the business posted $2.21 earnings per share. Carpenter Technology's revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Carpenter Technology Corporation will post 12.92 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology's dividend payout ratio (DPR) is currently 7.60%.

Wall Street Analyst Weigh In

CRS has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Susquehanna lowered their target price on shares of Carpenter Technology from $680.00 to $600.00 and set a "positive" rating on the stock in a report on Friday, July 31st. Weiss Ratings lowered shares of Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. TD Cowen boosted their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, BTIG Research increased their price target on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a "buy" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Carpenter Technology has an average rating of "Buy" and an average target price of $577.25.

About Carpenter Technology

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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