Zurcher Kantonalbank Zurich Cantonalbank Has $84.02 Million Holdings in Carpenter Technology Corporation $CRS

Key Points

• Zurcher Kantonalbank trimmed its stake in Carpenter Technology by 9.2% in Q4, selling 26,950 shares and finishing with 266,868 shares worth about $84.02 million (≈0.54% of the company).
• Insiders sold 22,300 shares over the past 90 days (≈$8.66 million), including SVP James D. Dee (15,800 shares) and Director Steven E. Karol (3,500 shares); insiders now own 2.90% of the stock.
• Company and analyst snapshot: Carpenter beat Q4 EPS ($2.33 vs $2.20) while revenue was slightly below estimates ($728M vs $733.8M), declared a $0.20 quarterly dividend (0.2% yield), and carries a consensus “Moderate Buy” with an average price target of ~$395.22.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 266,868 shares of the basic materials company's stock after selling 26,950 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.54% of Carpenter Technology worth $84,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CRS. Woodline Partners LP acquired a new position in Carpenter Technology during the 1st quarter worth approximately $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company's stock valued at $18,985,000 after buying an additional 1,701 shares in the last quarter. Focus Partners Wealth boosted its position in Carpenter Technology by 7.3% in the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company's stock valued at $836,000 after buying an additional 314 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Carpenter Technology during the second quarter worth $80,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Carpenter Technology during the second quarter worth $533,000. Institutional investors own 92.03% of the company's stock.

Insiders Place Their Bets

In related news, SVP James D. Dee sold 15,800 shares of the business's stock in a transaction on 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 transaction, the senior vice president owned 73,739 shares in the company, valued at $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the business's stock in a transaction on 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 transaction, the director owned 225,381 shares in the company, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,300 shares of company stock worth $8,664,044. Insiders own 2.90% of the company's stock.

Carpenter Technology Trading Up 0.0%

Shares of CRS stock opened at $445.75 on Monday. Carpenter Technology Corporation has a 1-year low of $165.00 and a 1-year high of $450.00. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 51.77, a PEG ratio of 1.71 and a beta of 1.24. The stock has a 50-day moving average of $394.26 and a 200-day moving average of $340.42.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.13. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 earnings per share. On average, equities research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Susquehanna assumed coverage on Carpenter Technology in a research note on Tuesday, March 3rd. They issued a "positive" rating and a $470.00 price target for the company. Wells Fargo & Company assumed coverage on Carpenter Technology in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 target price for the company. BTIG Research increased their target price on Carpenter Technology from $365.00 to $375.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Wall Street Zen raised Carpenter Technology from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $388.00 to $394.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $395.22.

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

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