WCM Investment Management LLC Has $28.57 Million Position in Carpenter Technology Corporation (NYSE:CRS)

WCM Investment Management LLC raised its holdings in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,596 shares of the basic materials company's stock after purchasing an additional 22,840 shares during the period. WCM Investment Management LLC owned 0.32% of Carpenter Technology worth $28,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Carpenter Technology during the fourth quarter worth approximately $193,000. Mutual of America Capital Management LLC increased its holdings in Carpenter Technology by 250.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 26,330 shares of the basic materials company's stock valued at $4,468,000 after purchasing an additional 18,817 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Carpenter Technology by 160.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 767 shares of the basic materials company's stock valued at $128,000 after buying an additional 472 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Carpenter Technology by 43.7% during the fourth quarter. Jones Financial Companies Lllp now owns 829 shares of the basic materials company's stock valued at $141,000 after purchasing an additional 252 shares during the period. Finally, State of Michigan Retirement System purchased a new stake in Carpenter Technology during the 4th quarter worth $2,003,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Up 1.8%

NYSE CRS traded up $4.83 on Thursday, hitting $279.88. 626,250 shares of the stock were exchanged, compared to its average volume of 804,777. Carpenter Technology Corporation has a 52-week low of $104.02 and a 52-week high of $283.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.75 and a quick ratio of 1.89. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 39.64, a P/E/G ratio of 0.92 and a beta of 1.39. The company's 50-day moving average price is $237.78 and its two-hundred day moving average price is $203.55.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.14. The company had revenue of $727.00 million during the quarter, compared to analyst estimates of $729.67 million. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Research analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current 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 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 often a sign that the company's board believes its shares are undervalued.

Carpenter Technology Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Anastasios John Hart sold 1,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $243.72, for a total transaction of $243,720.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction that occurred 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 owned 6,732 shares of the company's stock, valued at $1,330,647.12. This represents a 33.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CRS. Benchmark upped their price target on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, June 9th. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology has a consensus rating of "Moderate Buy" and a consensus price target of $278.33.

Carpenter Technology Company 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.