Carpenter Technology (NYSE:CRS) Director Sells $1,333,920.00 in Stock

Carpenter Technology Corporation (NYSE:CRS) Director Steven Karol sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total value of $1,333,920.00. Following the transaction, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Carpenter Technology Stock Down 1.1%

Shares of NYSE CRS traded down $4.43 during trading hours on Monday, hitting $385.30. The company had a trading volume of 469,521 shares, compared to its average volume of 913,663. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $397.72. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $339.35 and its 200-day moving average is $296.62. The stock has a market capitalization of $19.19 billion, a P/E ratio of 44.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.30.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $733.76 million. During the same period in the prior year, the firm posted $1.66 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

Institutional Trading of Carpenter Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Woodline Partners LP bought a new position in Carpenter Technology in the first quarter valued at approximately $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Carpenter Technology by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after purchasing an additional 1,701 shares during the last quarter. Focus Partners Wealth increased its stake in shares of Carpenter Technology by 7.3% in the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 314 shares during the last quarter. Ethic Inc. acquired a new position in shares of Carpenter Technology during the 2nd quarter worth $592,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Carpenter Technology during the 2nd quarter worth $228,000. Institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of several research analyst reports. KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. TD Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $373.43.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.