Y Intercept Hong Kong Ltd decreased its holdings in Carpenter Technology Corporation (NYSE:CRS – Free Report) by 29.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,339 shares of the basic materials company’s stock after selling 1,380 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Carpenter Technology were worth $1,316,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC grew its position in shares of Carpenter Technology by 121.8% in the first quarter. Root Financial Partners LLC now owns 326 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 179 shares in the last quarter. Severin Investments LLC boosted its stake in Carpenter Technology by 1.8% during the first quarter. Severin Investments LLC now owns 2,190 shares of the basic materials company’s stock worth $863,000 after buying an additional 39 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Carpenter Technology during the first quarter worth $1,626,000. SJS Investment Consulting Inc. grew its holdings in Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. Finally, Brown Miller Wealth Management LLC grew its holdings in Carpenter Technology by 7.9% in the 1st quarter. Brown Miller Wealth Management LLC now owns 1,523 shares of the basic materials company’s stock valued at $600,000 after buying an additional 112 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Trading Down 2.1%
CRS stock traded down $12.16 during midday trading on Friday, hitting $578.78. 515,330 shares of the company’s stock were exchanged, compared to its average volume of 862,748. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $28.76 billion, a PE ratio of 60.92, a P/E/G ratio of 1.72 and a beta of 1.22. The business has a 50-day simple moving average of $512.58 and a two-hundred day simple moving average of $422.29.
Carpenter Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. Carpenter Technology’s dividend payout ratio is presently 8.42%.
Insider Transactions at Carpenter Technology
In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the sale, the director owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on CRS. Susquehanna lifted their price target on Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a report on Thursday. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Wells Fargo & Company raised their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, TD Cowen boosted their target price on shares of Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $504.88.
View Our Latest Research Report on Carpenter Technology
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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.
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