Robeco Institutional Asset Management B.V. Boosts Holdings in Carpenter Technology Corporation (NYSE:CRS)

Robeco Institutional Asset Management B.V. lifted its position in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 514.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,786 shares of the basic materials company's stock after purchasing an additional 7,356 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Carpenter Technology were worth $1,592,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Carpenter Technology by 50.3% during the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 77 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position 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. Ameriflex Group Inc. bought a new position in shares of Carpenter Technology during the fourth quarter valued at about $44,000. Versant Capital Management Inc lifted its position in shares of Carpenter Technology by 27.3% during the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after purchasing an additional 77 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Carpenter Technology by 54.9% in the first quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock worth $85,000 after acquiring an additional 167 shares during the period. 92.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRS. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a report on Thursday, June 12th. Finally, Benchmark upped their target price on shares of Carpenter Technology from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, June 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and a consensus target price of $278.33.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded up $4.83 on Friday, hitting $279.88. 626,250 shares of the company traded hands, compared to its average volume of 806,943. The firm's 50-day simple moving average is $239.41 and its 200 day simple moving average is $204.56. The company has a current ratio of 3.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.39. The company has a market cap of $13.93 billion, a P/E ratio of 39.64, a P/E/G ratio of 0.94 and a beta of 1.39. Carpenter Technology Corporation has a 12-month low of $105.00 and a 12-month high of $282.99.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The company had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. During the same quarter last year, the firm earned $1.19 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, April 22nd. Carpenter Technology's dividend payout ratio is currently 11.33%.

Carpenter Technology announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to buy up to 4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 1,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $243.72, for a total transaction of $243,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director I Martin Inglis sold 3,433 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the sale, the director directly owned 6,732 shares of the company's stock, valued at $1,330,647.12. The trade was a 33.77% decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

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.