Elizabeth A. Socci Sells 802 Shares of Carpenter Technology Co. (NYSE:CRS) Stock

Carpenter Technology Co. (NYSE:CRS) VP Elizabeth A. Socci sold 802 shares of Carpenter Technology stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the sale, the vice president now directly owns 11,509 shares in the company, valued at approximately $1,175,183.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Carpenter Technology Price Performance

CRS stock opened at $103.53 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. Carpenter Technology Co. has a one year low of $44.40 and a one year high of $106.71. The stock has a market cap of $5.14 billion, a PE ratio of 39.37 and a beta of 1.47. The firm has a 50 day simple moving average of $76.35 and a two-hundred day simple moving average of $69.91.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business had revenue of $684.90 million during the quarter, compared to analysts’ expectations of $707.73 million. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts predict that Carpenter Technology Co. will post 3.97 EPS for the current fiscal year.

Carpenter Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, April 22nd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s payout ratio is currently 30.42%.

Institutional Investors Weigh In On Carpenter Technology

Institutional investors have recently made changes to their positions in the business. Phocas Financial Corp. purchased a new stake in shares of Carpenter Technology in the 4th quarter valued at $3,396,000. Consolidated Portfolio Review Corp purchased a new stake in shares of Carpenter Technology in the 4th quarter valued at $1,297,000. Penserra Capital Management LLC boosted 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 in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Carpenter Technology in the 4th quarter valued at $100,000. Finally, Kestra Advisory Services LLC boosted 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 in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Benchmark boosted their price objective on shares of Carpenter Technology from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen boosted their price objective on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Carpenter Technology in a research note on Monday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $109.67.

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.