Elizabeth Socci Sells 3,900 Shares of Carpenter Technology (NYSE:CRS) Stock

Carpenter Technology Corporation (NYSE:CRS) VP Elizabeth Socci sold 3,900 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the sale, the vice president directly owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carpenter Technology Trading Down 1.3%

NYSE:CRS opened at $312.45 on Wednesday. The firm has a 50-day simple moving average of $287.39 and a 200-day simple moving average of $265.69. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $342.11. The firm has a market cap of $15.57 billion, a P/E ratio of 38.20, a P/E/G ratio of 1.33 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44.

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

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st 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 0.3%. The ex-dividend date is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is 9.78%.

Institutional Investors Weigh In On Carpenter Technology

A number of large investors have recently made changes to their positions in CRS. Clearstead Advisors LLC raised its stake in Carpenter Technology by 17.9% in the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 36 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Carpenter Technology by 3.9% in the third quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 37 shares during the last quarter. Radnor Capital Management LLC raised its stake in shares of Carpenter Technology by 3.3% in the second quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 40 shares during the last quarter. ANB Bank lifted its holdings in shares of Carpenter Technology by 3.3% during the second quarter. ANB Bank now owns 1,304 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 42 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in Carpenter Technology by 3.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock worth $404,000 after buying an additional 43 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRS. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Zacks Research downgraded shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. TD Cowen increased their target price on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 24th. BTIG Research lifted their price target on shares of Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the 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.

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.