Vanguard Group Inc. Has $401.47 Million Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Vanguard Group Inc. decreased its position in shares of Carpenter Technology Co. (NYSE:CRS) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,670,458 shares of the basic materials company’s stock after selling 185,253 shares during the period. Vanguard Group Inc. owned about 11.48% of Carpenter Technology worth $401,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Carpenter Technology by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock valued at $256,072,000 after buying an additional 43,589 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Carpenter Technology by 82.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after buying an additional 438,781 shares in the last quarter. Hawk Ridge Capital Management LP boosted its position in Carpenter Technology by 199.1% in the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock valued at $48,741,000 after buying an additional 458,227 shares in the last quarter. Principal Financial Group Inc. boosted its position in Carpenter Technology by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 377,497 shares of the basic materials company’s stock valued at $26,727,000 after buying an additional 17,516 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its position in Carpenter Technology by 126.0% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 323,893 shares of the basic materials company’s stock valued at $22,932,000 after buying an additional 180,606 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $107.00 on Friday. Carpenter Technology Co. has a twelve month low of $51.94 and a twelve month high of $112.75. The firm has a fifty day simple moving average of $101.54 and a 200 day simple moving average of $79.59. The company has a market capitalization of $5.31 billion, a PE ratio of 40.68 and a beta of 1.47. The company has a quick ratio of 1.45, a current ratio of 3.20 and a debt-to-equity ratio of 0.46.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business had revenue of $684.90 million during the quarter, compared to the consensus estimate of $707.73 million. During the same quarter last year, the firm earned $0.38 earnings per share. Carpenter Technology’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Carpenter Technology Co. will post 4.31 EPS for the current year.

Carpenter Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Monday, April 22nd. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is currently 30.42%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRS shares. BTIG Research started coverage on shares of Carpenter Technology in a research report on Wednesday. They issued a “buy” rating and a $120.00 target price on the stock. Northcoast Research restated a “sell” rating and issued a $89.00 target price on shares of Carpenter Technology in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a research note on Tuesday. They set a “buy” rating and a $144.00 price target for the company. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Carpenter Technology in a research note on Tuesday, May 28th. Finally, TD Cowen raised their price target on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Insider Buying and Selling

In related news, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Carpenter Technology news, VP Marshall D. Akins sold 4,358 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total value of $445,518.34. Following the completion of the sale, the vice president now directly owns 23,014 shares in the company, valued at $2,352,721.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Karol sold 31,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the sale, the director now owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The disclosure for this sale can be found here. Insiders sold 59,678 shares of company stock valued at $6,261,693 over the last quarter. Insiders own 3.40% of the company’s stock.

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.