Nomura Holdings Inc. Buys New Stake in Carpenter Technology Co. (NYSE:CRS)

Nomura Holdings Inc. bought a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,602 shares of the basic materials company's stock, valued at approximately $1,120,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRS. Kestra Investment Management LLC bought a new position in Carpenter Technology during the 4th quarter worth about $25,000. CIBC Private Wealth Group LLC boosted its stake in shares of Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after purchasing an additional 127 shares in the last quarter. UMB Bank n.a. increased its holdings in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares during the period. Fifth Third Bancorp raised its stake in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after buying an additional 109 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Carpenter Technology by 11.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after buying an additional 71 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total transaction of $678,566.78. Following the sale, the director now directly owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $240.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

Carpenter Technology Stock Down 1.9%

Shares of CRS stock traded down $4.48 during trading hours on Thursday, reaching $225.81. 609,068 shares of the company's stock were exchanged, compared to its average volume of 759,126. Carpenter Technology Co. has a 1 year low of $95.17 and a 1 year high of $236.59. 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 $11.24 billion, a PE ratio of 42.61, a PEG ratio of 0.93 and a beta of 1.33. The stock's fifty day moving average price is $191.35 and its two-hundred day moving average price is $188.80.

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

Carpenter Technology declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 11.33%.

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.