Emerald Mutual Fund Advisers Trust Sells 11,151 Shares of Carpenter Technology Corporation $CRS

Emerald Mutual Fund Advisers Trust reduced its stake in Carpenter Technology Corporation (NYSE:CRS) by 19.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,062 shares of the basic materials company’s stock after selling 11,151 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.09% of Carpenter Technology worth $11,310,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in Carpenter Technology during the 2nd quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of Carpenter Technology during the second quarter valued at about $43,000. Rakuten Securities Inc. purchased a new position in Carpenter Technology during the second quarter worth about $45,000. Root Financial Partners LLC bought a new stake in Carpenter Technology in the 3rd quarter worth about $41,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock valued at $42,000 after buying an additional 60 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, VP Elizabeth A. Socci sold 3,900 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the transaction, the vice president owned 9,594 shares in the company, valued at $3,082,072.50. This trade represents a 28.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brian J. Malloy sold 43,688 shares of Carpenter Technology stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the completion of the transaction, the chief operating officer owned 78,875 shares of the company’s stock, valued at $24,013,493.75. The trade was a 35.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,358 shares of company stock valued at $24,254,008 in the last quarter. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $334.19 on Friday. The company has a market capitalization of $16.65 billion, a P/E ratio of 40.85, a P/E/G ratio of 1.41 and a beta of 1.29. The business has a fifty day simple moving average of $323.28 and a two-hundred day simple moving average of $284.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $348.99.

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

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology’s dividend payout ratio is 9.78%.

Wall Street Analyst Weigh In

CRS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $425.00 target price on Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. BTIG Research upped their price objective on Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 27th. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Jones Trading assumed coverage on Carpenter Technology in a research note on Wednesday, October 22nd. They set a “buy” rating and a $400.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $371.14.

About Carpenter Technology

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.