11,051 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by Gallo Partners LP

Gallo Partners LP purchased a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,051 shares of the basic materials company's stock, valued at approximately $1,875,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in Carpenter Technology by 28.3% in the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after buying an additional 979,313 shares during the period. Invesco Ltd. boosted its position in shares of Carpenter Technology by 30.3% during the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock worth $260,884,000 after acquiring an additional 357,417 shares in the last quarter. Geode Capital Management LLC increased its stake in Carpenter Technology by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock valued at $193,279,000 after acquiring an additional 38,411 shares during the last quarter. Northern Trust Corp raised its position in Carpenter Technology by 21.0% during the fourth quarter. Northern Trust Corp now owns 679,343 shares of the basic materials company's stock valued at $115,291,000 after purchasing an additional 117,759 shares in the last quarter. Finally, Norges Bank bought a new stake in Carpenter Technology during the fourth quarter worth $100,505,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of Carpenter Technology stock in a transaction dated 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 directly owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. The trade was a 33.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $168.00.

Carpenter Technology Price Performance

CRS traded up $11.01 on Friday, reaching $213.34. The stock had a trading volume of 1,221,493 shares, compared to its average volume of 748,334. 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 company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 40.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. Carpenter Technology Co. has a fifty-two week low of $95.17 and a fifty-two week high of $215.25. The firm has a 50-day moving average of $183.27 and a 200-day moving average of $183.06.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The company had revenue of $727.00 million during the quarter, compared to the consensus estimate of $729.67 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

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

Carpenter Technology Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.37%. Carpenter Technology's dividend payout ratio is 11.33%.

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.