Universal Beteiligungs und Servicegesellschaft mbH Increases Stake in Carpenter Technology Corporation $CRS

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Carpenter Technology (NYSE:CRS) by 28.5% in Q4 to 37,994 shares worth about $11.96 million, while institutional investors collectively own roughly 92.03% of the company.
• Company insiders sold 22,300 shares over the past three months (notably SVP James D. Dee sold 15,800 at $391.78 and Director Steven E. Karol sold 3,500 at $381.12), leaving insiders with about 2.90% ownership.
• Analysts have been upgrading CRS, producing a consensus rating of “Moderate Buy” with an average price target of $403.11 and several firms raising targets (e.g., JPMorgan to $465 and KeyCorp to $453).

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,994 shares of the basic materials company's stock after purchasing an additional 8,426 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Carpenter Technology worth $11,962,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Evergreen Capital Management LLC increased its holdings in shares of Carpenter Technology by 25.2% in the 4th quarter. Evergreen Capital Management LLC now owns 5,824 shares of the basic materials company's stock valued at $1,834,000 after purchasing an additional 1,171 shares in the last quarter. PFG Advisors increased its holdings in shares of Carpenter Technology by 9.0% in the 4th quarter. PFG Advisors now owns 2,734 shares of the basic materials company's stock valued at $861,000 after purchasing an additional 225 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Carpenter Technology in the 4th quarter valued at about $172,000. Krilogy Financial LLC purchased a new position in shares of Carpenter Technology in the 4th quarter valued at about $238,000. Finally, Merit Financial Group LLC increased its holdings in shares of Carpenter Technology by 30.9% in the 4th quarter. Merit Financial Group LLC now owns 1,207 shares of the basic materials company's stock valued at $380,000 after purchasing an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Insider Transactions at Carpenter Technology

In related news, SVP James D. Dee sold 15,800 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the sale, the senior vice president directly owned 73,739 shares of the company's stock, valued at approximately $28,889,465.42. This represents a 17.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the completion of the sale, the director directly owned 225,381 shares in the company, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRS shares. BTIG Research increased their price target on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a "buy" rating in a report on Friday, January 30th. KeyCorp increased their price target on shares of Carpenter Technology from $380.00 to $453.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Wells Fargo & Company started coverage on shares of Carpenter Technology in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $394.00 to $465.00 and gave the company an "overweight" rating in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Carpenter Technology from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and a consensus price target of $403.11.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $427.89 on Friday. The stock has a market cap of $21.31 billion, a price-to-earnings ratio of 49.70, a PEG ratio of 1.64 and a beta of 1.24. Carpenter Technology Corporation has a 52 week low of $188.12 and a 52 week high of $459.18. The company's 50-day moving average price is $400.78 and its 200 day moving average price is $346.20. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.13. The firm had revenue of $728.00 million for the quarter, compared to analysts' expectations of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. As a group, research analysts forecast that Carpenter Technology Corporation will post 10.29 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Carpenter Technology's dividend payout ratio is presently 9.29%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

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