Frontier Capital Management Co. LLC Increases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Frontier Capital Management Co. LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,802,995 shares of the basic materials company’s stock after acquiring an additional 41,774 shares during the period. Frontier Capital Management Co. LLC’s holdings in Carpenter Technology were worth $80,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC bought a new position in shares of Carpenter Technology in the first quarter worth $752,000. Point72 Hong Kong Ltd purchased a new position in shares of Carpenter Technology during the first quarter worth about $26,000. Tower Research Capital LLC TRC increased its position in shares of Carpenter Technology by 124.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 543 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Carpenter Technology by 479.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,489 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in Carpenter Technology during the first quarter valued at approximately $74,000. Institutional investors own 91.86% of the company’s stock.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, SVP Brian J. Malloy sold 10,372 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.69, for a total value of $619,104.68. Following the completion of the sale, the senior vice president now owns 51,551 shares in the company, valued at approximately $3,077,079.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Carpenter Technology news, SVP Brian J. Malloy sold 10,372 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.69, for a total transaction of $619,104.68. Following the transaction, the senior vice president now directly owns 51,551 shares of the company’s stock, valued at approximately $3,077,079.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven E. Karol sold 810 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $60.55, for a total transaction of $49,045.50. Following the completion of the transaction, the director now owns 229,733 shares of the company’s stock, valued at $13,910,333.15. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Carpenter Technology Trading Up 0.6 %

Shares of CRS traded up $0.40 during trading hours on Tuesday, hitting $64.36. The company had a trading volume of 74,861 shares, compared to its average volume of 397,174. Carpenter Technology Co. has a 52-week low of $31.02 and a 52-week high of $64.60. The company has a quick ratio of 1.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $58.61 and its 200 day moving average price is $51.60. The firm has a market cap of $3.14 billion, a P/E ratio of 55.62 and a beta of 1.78.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. The firm had revenue of $758.10 million for the quarter, compared to analysts’ expectations of $743.07 million. Carpenter Technology had a net margin of 2.21% and a return on equity of 4.21%. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. On average, research analysts predict that Carpenter Technology Co. will post 3.48 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were paid a $0.20 dividend. The ex-dividend date was Monday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. Carpenter Technology’s payout ratio is presently 69.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRS shares. TD Cowen increased their price target on shares of Carpenter Technology from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. StockNews.com began coverage on Carpenter Technology in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Northcoast Research began coverage on Carpenter Technology in a research note on Friday, August 25th. They set a “buy” rating and a $73.00 price target for the company. Finally, TheStreet upgraded Carpenter Technology from a “c+” rating to a “b” rating in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

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.