GTS Securities LLC Sells 1,673 Shares of Carpenter Technology Co. (NYSE:CRS)

GTS Securities LLC lessened its position in Carpenter Technology Co. (NYSE:CRS) by 58.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,197 shares of the basic materials company’s stock after selling 1,673 shares during the period. GTS Securities LLC’s holdings in Carpenter Technology were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in Carpenter Technology by 28.3% in the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company’s stock worth $754,295,000 after acquiring an additional 979,313 shares during the period. Invesco Ltd. grew its position in Carpenter Technology by 30.3% in the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company’s stock worth $260,884,000 after purchasing an additional 357,417 shares during the last quarter. SurgoCap Partners LP grew its position in Carpenter Technology by 117.6% in the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company’s stock worth $244,734,000 after purchasing an additional 779,357 shares during the last quarter. Geode Capital Management LLC grew its position in Carpenter Technology by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company’s stock worth $193,279,000 after purchasing an additional 38,411 shares during the last quarter. Finally, Third Point LLC grew its position in Carpenter Technology by 31.8% in the 4th quarter. Third Point LLC now owns 870,000 shares of the basic materials company’s stock worth $147,648,000 after purchasing an additional 210,000 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $234.98 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm’s 50-day simple moving average is $197.57 and its 200-day simple moving average is $191.85. Carpenter Technology Co. has a twelve month low of $95.17 and a twelve month high of $238.94. The firm has a market cap of $11.70 billion, a P/E ratio of 44.34, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33.

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

Carpenter Technology announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Carpenter Technology Dividend Announcement

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

Insider Activity

In other news, Director I Martin Inglis sold 3,433 shares of Carpenter Technology stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the sale, the director now directly owns 6,732 shares in the company, valued at approximately $1,330,647.12. The trade was a 33.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Northcoast Research upgraded shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.00.

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.