Tyro Capital Management LLC Buys 29,944 Shares of Carpenter Technology Co. (NYSE:CRS)

Tyro Capital Management LLC raised its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,693 shares of the basic materials company's stock after purchasing an additional 29,944 shares during the period. Carpenter Technology makes up about 9.9% of Tyro Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Tyro Capital Management LLC owned about 0.36% of Carpenter Technology worth $30,326,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Carpenter Technology by 471.1% in the 3rd quarter. Barclays PLC now owns 101,745 shares of the basic materials company's stock valued at $16,236,000 after buying an additional 83,930 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Carpenter Technology in the fourth quarter valued at about $419,000. Burney Co. increased its holdings in shares of Carpenter Technology by 6.2% in the fourth quarter. Burney Co. now owns 2,045 shares of the basic materials company's stock worth $347,000 after acquiring an additional 120 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Carpenter Technology in the fourth quarter worth about $511,000. Finally, UMB Bank n.a. raised its position in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after purchasing an additional 191 shares during the period. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling at Carpenter Technology

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

Carpenter Technology Stock Performance

Carpenter Technology stock traded up $4.47 during midday trading on Friday, reaching $230.47. 237,511 shares of the company's stock were exchanged, compared to its average volume of 861,880. The stock's 50-day simple moving average is $192.18 and its 200 day simple moving average is $189.29. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 43.47, a P/E/G ratio of 0.93 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52 week low of $95.17 and a 52 week high of $236.59.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm earned $1.19 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology declared that its board has approved a share repurchase program on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Carpenter Technology Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.