James Dee Sells 15,800 Shares of Carpenter Technology (NYSE:CRS) Stock

Carpenter Technology Corporation (NYSE:CRS) SVP James Dee sold 15,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president owned 73,739 shares of the company’s stock, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carpenter Technology Stock Performance

NYSE:CRS opened at $398.06 on Friday. The firm has a market capitalization of $19.83 billion, a PE ratio of 46.23, a PEG ratio of 1.55 and a beta of 1.30. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $403.81. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $345.15 and its 200 day simple moving average is $299.92.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.13. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. On average, sell-side analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th will be issued a $0.20 dividend. 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 9.29%.

Institutional Investors Weigh In On Carpenter Technology

Large investors have recently made changes to their positions in the company. Meeder Advisory Services Inc. lifted its holdings in Carpenter Technology by 3.7% during the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 32 shares during the last quarter. Abel Hall LLC raised its stake in shares of Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC raised its stake in shares of Carpenter Technology by 2.4% in the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after acquiring an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Carpenter Technology by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after acquiring an additional 34 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Carpenter Technology by 17.9% during the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CRS shares. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price for the company in a research note on Thursday, November 13th. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.43.

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.