Nomura Holdings Inc. Invests $1.12 Million in Carpenter Technology Co. (NYSE:CRS)

Nomura Holdings Inc. bought a new stake in Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,602 shares of the basic materials company’s stock, valued at approximately $1,120,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 63 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after buying an additional 71 shares during the period. CIBC Asset Management Inc raised its stake in shares of Carpenter Technology by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock worth $258,000 after buying an additional 78 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Carpenter Technology by 4.6% in the fourth quarter. EP Wealth Advisors LLC now owns 2,168 shares of the basic materials company’s stock valued at $368,000 after buying an additional 95 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 109 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 0.8%

Shares of Carpenter Technology stock opened at $232.27 on Monday. The firm has a market cap of $11.56 billion, a PE ratio of 43.82, a P/E/G ratio of 0.93 and a beta of 1.33. The business’s 50 day simple moving average is $188.18 and its 200 day simple moving average is $187.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52-week low of $95.17 and a 52-week high of $234.52.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.14. The company had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. On average, analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is currently 11.33%.

Carpenter Technology declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have commented on CRS. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. Finally, Northcoast Research upgraded Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average target price of $168.00.

Insider Buying and Selling at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,732 shares in the company, valued at $1,330,647.12. This trade represents a 33.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

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.