846 Shares in Carpenter Technology Corporation $CRS Bought by AE Wealth Management LLC

AE Wealth Management LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 846 shares of the basic materials company’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hancock Whitney Corp bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $819,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Carpenter Technology in the second quarter valued at $1,460,000. Graham Capital Management L.P. lifted its position in Carpenter Technology by 175.8% in the first quarter. Graham Capital Management L.P. now owns 3,643 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 2,322 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in Carpenter Technology during the first quarter worth $324,000. Finally, Amundi boosted its stake in Carpenter Technology by 344,580.0% during the first quarter. Amundi now owns 51,702 shares of the basic materials company’s stock worth $8,610,000 after buying an additional 51,687 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 0.4%

Shares of CRS stock opened at $331.78 on Tuesday. The company has a market capitalization of $16.53 billion, a P/E ratio of 40.56, a P/E/G ratio of 1.41 and a beta of 1.47. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $342.11. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $271.24 and a 200 day moving average price of $258.07.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm had revenue of $733.70 million for the quarter, compared to analysts’ expectations of $741.18 million. During the same period in the prior year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.78%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research note on Thursday, October 30th. TD Cowen upped their target price on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. BTIG Research raised their price target on shares of Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $371.14.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares in the company, valued at approximately $44,240,400. The trade was a 1.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% 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.