Carpenter Technology Co. (NYSE:CRS) Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. raised its position in Carpenter Technology Co. (NYSE:CRS) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,500 shares of the basic materials company’s stock after acquiring an additional 74,400 shares during the quarter. Carpenter Technology accounts for about 1.4% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 16th largest holding. Hennessy Advisors Inc. owned approximately 0.93% of Carpenter Technology worth $32,960,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Carpenter Technology by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,855,711 shares of the basic materials company’s stock valued at $393,562,000 after buying an additional 53,994 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Carpenter Technology by 1.2% during the 4th 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 during the last quarter. FMR LLC boosted its stake in shares of Carpenter Technology by 15.9% during the 3rd quarter. FMR LLC now owns 1,545,931 shares of the basic materials company’s stock valued at $103,902,000 after buying an additional 212,321 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Carpenter Technology by 82.3% during the 4th 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 during the last quarter. Finally, Hawk Ridge Capital Management LP boosted its stake in shares of Carpenter Technology by 199.1% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

CRS has been the subject of several research analyst reports. Northcoast Research reiterated a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research note on Friday, June 14th. TD Cowen increased their target price on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BTIG Research initiated coverage on Carpenter Technology in a research note on Wednesday. They set a “buy” rating and a $120.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a research note on Tuesday. They set a “buy” rating and a $144.00 price objective on the stock. Finally, Benchmark restated a “buy” rating and set a $140.00 price objective on shares of Carpenter Technology in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

Carpenter Technology Stock Performance

CRS traded up $1.23 during trading hours on Friday, hitting $108.29. 291,904 shares of the stock were exchanged, compared to its average volume of 553,074. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 40.68 and a beta of 1.47. Carpenter Technology Co. has a 12 month low of $51.94 and a 12 month high of $112.75. The stock has a 50-day simple moving average of $101.54 and a 200-day simple moving average of $79.59.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. The company had revenue of $684.90 million for the quarter, compared to analysts’ expectations of $707.73 million. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Analysts anticipate that Carpenter Technology Co. will post 4.35 earnings per share for the current year.

Carpenter Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.74%. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 23,518 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total value of $2,616,612.68. Following the sale, the senior vice president now directly owns 84,798 shares in the company, valued at $9,434,625.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP James D. Dee sold 23,518 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the transaction, the senior vice president now directly owns 84,798 shares of the company’s stock, valued at $9,434,625.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the vice president now directly owns 23,014 shares in the company, valued at $2,352,721.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,678 shares of company stock worth $6,261,693. 3.40% of the stock is owned by insiders.

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.