Carpenter Technology Co. (NYSE:CRS) Director Steven E. Karol Sells 31,000 Shares

Carpenter Technology Co. (NYSE:CRS) Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the sale, the director now directly owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $102.62 on Wednesday. The stock has a market capitalization of $5.09 billion, a PE ratio of 39.02 and a beta of 1.47. 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 business has a fifty day moving average price of $75.58 and a two-hundred day moving average price of $69.67. Carpenter Technology Co. has a fifty-two week low of $44.40 and a fifty-two week high of $104.85.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same quarter last year, the company posted $0.38 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that Carpenter Technology Co. will post 3.97 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be paid a $0.20 dividend. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.78%. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen lifted their price target on Carpenter Technology from $90.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Northcoast Research reaffirmed a “neutral” rating on shares of Carpenter Technology in a report on Monday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.33.

Hedge Funds Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Phocas Financial Corp. bought a new position in shares of Carpenter Technology in the 4th quarter valued at $3,396,000. Consolidated Portfolio Review Corp bought a new position in shares of Carpenter Technology in the 4th quarter valued at $1,297,000. Penserra Capital Management LLC increased its stake in shares of Carpenter Technology by 6,477.1% in the 3rd quarter. Penserra Capital Management LLC now owns 37,884 shares of the basic materials company’s stock valued at $2,546,000 after purchasing an additional 37,308 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Carpenter Technology in the 4th quarter valued at $100,000. Finally, Kestra Advisory Services LLC increased its stake in shares of Carpenter Technology by 7.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,256 shares of the basic materials company’s stock valued at $488,000 after purchasing an additional 503 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

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.