UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 15,853 Shares of Carpenter Technology Co. (NYSE:CRS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,084 shares of the basic materials company's stock after purchasing an additional 15,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of Carpenter Technology worth $17,494,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of Carpenter Technology during the 4th quarter worth approximately $20,101,000. Two Sigma Advisers LP raised its stake in Carpenter Technology by 5.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,800 shares of the basic materials company's stock worth $305,000 after acquiring an additional 100 shares in the last quarter. Tyro Capital Management LLC lifted its holdings in shares of Carpenter Technology by 20.1% during the fourth quarter. Tyro Capital Management LLC now owns 178,693 shares of the basic materials company's stock valued at $30,326,000 after acquiring an additional 29,944 shares during the period. State of Wyoming boosted its stake in shares of Carpenter Technology by 38.7% in the 4th quarter. State of Wyoming now owns 1,831 shares of the basic materials company's stock valued at $311,000 after purchasing an additional 511 shares in the last quarter. Finally, SurgoCap Partners LP boosted its stake in shares of Carpenter Technology by 117.6% in the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock valued at $244,734,000 after purchasing an additional 779,357 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $168.00.

Insider Buying and Selling

In other news, Director I Martin Inglis sold 3,433 shares of Carpenter Technology stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded up $5.25 during trading on Monday, reaching $240.25. The company's stock had a trading volume of 762,235 shares, compared to its average volume of 769,250. Carpenter Technology Co. has a one year low of $95.17 and a one year high of $242.20. The stock has a 50-day moving average price of $198.59 and a two-hundred day moving average price of $192.44. 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 capitalization of $11.96 billion, a P/E ratio of 45.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced 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 net margin of 9.34% and a return on equity of 19.88%. The company had revenue of $727.00 million during the quarter, compared to the consensus estimate of $729.67 million. During the same period in the previous year, the firm posted $1.19 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.33%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is presently 11.33%.

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

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.