CRS Carpenter Technology

Carpenter Technology Corp. engages in the manufacture, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment comprises of major premium alloy and stainless steel manufacturing operations. The Performance Engineered Products segment includes the dynamet titanium, carpenter powder products, amega west, Carpenter Additive, and the Latrobe and Mexico distribution businesses. The company was founded by James Carpenter in 1889 and is headquartered in Philadelphia, PA.
Company profile
Ticker
CRS
Exchange
Website
CEO
Tony Thene
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
230458500
CRS stock data
()
Press releases
Carpenter Technology Announces Conference Call and Webcast
14 Apr 21
Carpenter Technology Extends and Amends Credit Facility
26 Mar 21
Carpenter Technology Corp. to Host Earnings Call
28 Jan 21
Carpenter Technology Declares Quarterly Cash Dividend
21 Jan 21
Carpenter Technology Announces Conference Call and Webcast
19 Jan 21
Investment data
Securities sold
Number of investors
Calendar
29 Jan 21
18 Apr 21
30 Jun 21
Financial summary
Quarter (USD) |
Dec 20 | Sep 20 | Mar 20 | Dec 19 | |
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Diluted EPS |
Annual (USD) |
Jun 20 | Jun 19 | Jun 18 | Jun 17 | |
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Cost of revenue | |||||
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Diluted EPS |
Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 271.4M | 271.4M | 271.4M | 271.4M | 271.4M | |
Cash burn (monthly) | (positive/no burn) | 31.87M | 7.97M | (positive/no burn) | (positive/no burn) | |
Cash used (since last report) | n/a | 115.33M | 28.83M | n/a | n/a | |
Cash remaining | n/a | 156.07M | 242.57M | n/a | n/a | |
Runway (months of cash) | n/a | 4.9 | 30.4 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
13 Oct 20 | Viola L Acoff | Director Stock Options Common Stock | Grant | Aquire A | No | No | 18.26 | 6,500 | 118.69K | 6,500 |
13 Oct 20 | Viola L Acoff | Director Stock Units Common Stock | Grant | Aquire A | No | No | 0 | 6,299 | 0 | 10,263.9 |
13 Oct 20 | Anastasios John Hart | Director Stock Options Common Stock | Grant | Aquire A | No | No | 18.26 | 6,500 | 118.69K | 6,500 |
13 Oct 20 | Anastasios John Hart | Director Stock Units Common Stock | Grant | Aquire A | No | No | 0 | 6,299 | 0 | 10,263.9 |
13 Oct 20 | I Martin Inglis | Director Stock Options Common Stock | Grant | Aquire A | No | No | 18.26 | 6,500 | 118.69K | 6,500 |
13 Oct 20 | I Martin Inglis | Director Stock Units Common Stock | Grant | Aquire A | No | No | 0 | 6,299 | 0 | 51,441.55 |
13 Oct 20 | Steven E Karol | Director Stock Options Common Stock | Grant | Aquire A | No | No | 18.26 | 6,500 | 118.69K | 6,500 |
13 Oct 20 | Steven E Karol | Director Stock Units Common Stock | Grant | Aquire A | No | No | 0 | 6,299 | 0 | 28,153.75 |
13 Oct 20 | Ligocki Kathleen | Director Stock Options Common Stock | Grant | Aquire A | No | No | 18.26 | 6,500 | 118.69K | 6,500 |
13 Oct 20 | Ligocki Kathleen | Director Stock Units Common Stock | Grant | Aquire A | No | No | 0 | 6,299 | 0 | 14,015.44 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
89.9% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 198 |
Opened positions | 34 |
Closed positions | 28 |
Increased positions | 64 |
Reduced positions | 74 |
13F shares |
Current |
---|---|
Total value | 1.26B |
Total shares | 43.18M |
Total puts | 77.6K |
Total calls | 154.7K |
Total put/call ratio | 0.5 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 7.48M | $217.84M |
Vanguard | 4.9M | $142.64M |
Dimensional Fund Advisors | 3.33M | $97.01M |
STT State Street | 3.08M | $89.75M |
Alliancebernstein | 2.89M | $84.15M |
TROW T. Rowe Price | 2.79M | $81.1M |
Frontier Capital Management | 1.51M | $43.96M |
NTRS Northern Trust | 999.76K | $29.11M |
BK Bank Of New York Mellon | 963.96K | $28.07M |
BAC Bank Of America | 913.62K | $26.6M |
Financial report summary
?Competition
Ak Steel HoldingRisks
- Our results of operations have been adversely affected and could in the future be materially adversely impacted by the global COVID-19 pandemic.
- The demand for certain products we produce may be cyclical.
- A significant portion of our sales represents products sold to customers in the commercial aerospace and defense and energy markets. The cyclicality of those markets can adversely affect our current business and our expansion objectives.
- Any significant delay or inability to successfully expand our operations in a timely and cost-effective manner could materially adversely affect our business, financial condition and results of operations.
- Periods of reduced demand and excess supply as well as the availability of substitute lower cost materials can adversely affect our ability to price and sell our products at the profitability levels we require to be successful.
- We rely on third parties to supply certain raw materials and supplies that are critical to the manufacture of our products and we may not be able to access alternative sources of these raw materials if the suppliers are unwilling or unable to meet our demand.
- We provide benefits to active and retired employees throughout most of our Company, most of which are not covered by insurance; and thus, our financial condition can be adversely affected if our investment returns are insufficient to meet these obligations.
- The extensive environmental, health and safety regulatory regimes applicable to our manufacturing operations create potential exposure to significant liabilities.
- Our manufacturing processes, and the manufacturing processes of many of our suppliers and customers, are energy intensive and generate carbon dioxide and other “Greenhouse Gases”, and pending legislation or regulation of Greenhouse Gases, if enacted or adopted in an onerous form, could have a material adverse impact on our results of operations, financial condition and cash flows.
- Product liability and product quality claims could adversely affect our operating results.
- Our business subjects us to risks of litigation claims, as a routine matter, and this risk increases the potential for a loss that might not be covered by insurance.
- A portion of our workforce is covered by collective bargaining agreements and union attempts to organize our other employees may cause work interruptions or stoppages.
- Our manufacturing processes are complex and depend upon critical, high cost equipment for which there may be only limited or no production alternatives.
- A significant portion of our manufacturing and production facilities are located in Reading and Latrobe, Pennsylvania and Athens, Alabama, which increases our exposure to significant disruption to our business as a result of unforeseeable developments in these geographic areas.
- We rely on third parties to supply energy consumed at each of our energy-intensive production facilities.
- We consider acquisitions, joint ventures and other business combination opportunities, as well as possible business unit dispositions, as part of our overall business strategy, that involve uncertainties and potential risks that we cannot predict or anticipate fully.
- Regulations related to conflict minerals could adversely impact our business.
- Our business may be impacted by external factors that we may not be able to control.
- Our international operations and global sales expose us to various risks including the impact of tariffs, which may adversely affect our business.
- We value most of our inventory using the LIFO method, which could be repealed resulting in adverse effects on our cash flows and financial condition.
- We depend on the retention of key personnel.
- Cybersecurity attacks and other security breaches or failures in functionality of our information technology (“IT”) and computer systems could adversely impact our financial condition and results of operations and compromise the integrity of confidential data.
- We are in the process of implementing a new enterprise resource planning system and problems with the design or implementation of this system could interfere with our business and operations.
- The carrying value of goodwill and other long-lived assets may not be recoverable.
- Our ability to produce timely and accurate financial statements may be impacted if we fail to maintain an effective system of disclosure controls and internal control over financial reporting.
Content analysis
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Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
area, beneficial, built, concentrate, confidence, conform, core, experienced, extinguishment, gradually, hard, magnetic, mandate, OEM, pace, pent, profile, shape, sixteen, slower, subleased, today
Removed:
attractive, eliminate, intercompany, seventeen, stronger
Financial reports
10-Q
2021 Q2
Quarterly report
29 Jan 21
10-Q
2021 Q1
Quarterly report
22 Oct 20
10-K
2020 FY
Annual report
4 Sep 20
NT 10-K
Notice of late annual filing
1 Sep 20
10-Q
2020 Q3
Quarterly report
30 Apr 20
10-Q
2020 Q2
Quarterly report
30 Jan 20
10-Q
2020 Q1
Quarterly report
24 Oct 19
10-K
2019 FY
Annual report
29 Aug 19
10-Q
2019 Q3
Quarterly report
25 Apr 19
10-Q
2019 Q2
Quarterly report
31 Jan 19
Current reports
8-K
Entry into a Material Definitive Agreement
29 Mar 21
8-K
Results of Operations and Financial Condition
29 Jan 21
8-K
Carpenter Technology Reports Second Quarter
29 Jan 21
8-K
Results of Operations and Financial Condition
23 Oct 20
8-K
Carpenter Technology Reports First Quarter
23 Oct 20
8-K
Submission of Matters to a Vote of Security Holders
16 Oct 20
8-K
Departure of Directors or Certain Officers
16 Oct 20
8-K
Results of Operations and Financial Condition
3 Aug 20
8-K
Carpenter Technology Reports Fourth Quarter
3 Aug 20
8-K
Entry into a Material Definitive Agreement
24 Jul 20
Registration and prospectus
S-8
Registration of securities for employees
29 Jan 21
424B2
Prospectus for primary offering
14 Jul 20
FWP
Free writing prospectus
10 Jul 20
424B2
Prospectus for primary offering
9 Jul 20
S-3ASR
Automatic shelf registration
9 Jul 20
S-8
Registration of securities for employees
30 Jan 20
S-3ASR
Automatic shelf registration
17 Oct 16
S-8
Registration of securities for employees
17 Oct 16
424B5
Prospectus supplement for primary offering
21 Feb 13
424B3
Prospectus supplement
20 Feb 13
Proxies
DEFA14A
Additional proxy soliciting materials
2 Oct 20
DEF 14A
Definitive proxy
17 Sep 20
DEF 14A
Definitive proxy
17 Sep 19
DEF 14A
Definitive proxy
16 Sep 18
DEFA14A
Additional proxy soliciting materials
1 Oct 17
DEF 14A
Definitive proxy
18 Sep 17
DEFA14A
Additional proxy soliciting materials
26 Sep 16
DEF 14A
Definitive proxy
18 Sep 16
DEF 14A
Definitive proxy
14 Sep 15
DEF 14A
Definitive proxy
11 Sep 14
Other
SD
Conflict minerals disclosure
22 May 20
SD
Conflict minerals disclosure
2 May 19
SD
Conflict minerals disclosure
10 May 18
SD
Conflict minerals disclosure
18 May 17
SD
Conflict minerals disclosure
22 May 16
UPLOAD
Letter from SEC
6 Dec 15
CORRESP
Correspondence with SEC
5 Nov 15
UPLOAD
Letter from SEC
27 Oct 15
SD
Conflict minerals disclosure
31 May 15
SD
Conflict minerals disclosure
1 Jun 14
Ownership
SC 13G
CARPENTER TECHNOLOGY / PRICE T ROWE ASSOCIATES ownership change
15 Feb 21
SC 13G/A
CARPENTER TECHNOLOGY / DIMENSIONAL FUND ADVISORS ownership change
12 Feb 21
SC 13G/A
CARPENTER TECHNOLOGY / VANGUARD ownership change
10 Feb 21
SC 13G
CARPENTER TECHNOLOGY / ALLIANCEBERNSTEIN ownership change
7 Feb 21
SC 13G
CARPENTER TECHNOLOGY / STATE STREET ownership change
5 Feb 21
SC 13G
CARPENTER TECHNOLOGY / BlackRock ownership change
25 Jan 21
4/A
CARPENTER TECHNOLOGY / CHARLES DOUGLAS MCLANE JR ownership change
16 Oct 20
4
CARPENTER TECHNOLOGY / JR STEPHEN M WARD ownership change
15 Oct 20
4
CARPENTER TECHNOLOGY / JEFFREY WADSWORTH ownership change
15 Oct 20
4
CARPENTER TECHNOLOGY / GREGORY A PRATT ownership change
15 Oct 20
Patents
APP
Utility
Indirect Additive Manufacturing Process for Fabricating Bonded Soft Magnets
25 Feb 21
A bonded soft magnet object comprising bonded soft magnetic particles of an iron-containing alloy having a soft magnet characteristic, wherein the bonded soft magnetic particles have a particle size of at least 200 nm and up to 100 microns.
APP
Utility
Double-Shouldered Connection for Drilling Tubulars with Large Inside Diameter
30 Dec 20
A threaded connection for drilling tubulars includes a tubular box section having a sidewall.
GRANT
Utility
Custom titanium alloy for 3-D printing and method of making same
30 Nov 20
Inventors: Charles Frederick Yolton
APP
Utility
Method and Apparatus for Generating Fluid Pressure Pulses of Adjustable Amplitude
21 Oct 20
A pressure generating device for use in downhole drilling operations includes a rotating valve portion having a first body with at least one first flow channel, and a stationary valve portion having a second body with at least one second flow channels and at least one bypass channel.
GRANT
Utility
Titanium powder production apparatus and method
9 Mar 20
A method and apparatus for producing titanium metal powder from a melt.
Transcripts
2021 Q2
Earnings call transcript
28 Jan 21
2021 Q1
Earnings call transcript
22 Oct 20
2020 Q4
Earnings call transcript
1 Aug 20
2020 Q3
Earnings call transcript
2 May 20
2020 Q2
Earnings call transcript
30 Jan 20
2020 Q1
Earnings call transcript
24 Oct 19
2019 Q4
Earnings call transcript
4 Aug 19
2019 Q3
Earnings call transcript
25 Apr 19
2019 Q2
Earnings call transcript
31 Jan 19
2019 Q1
Earnings call transcript
24 Oct 18
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