Hennion & Walsh Asset Management Inc. Buys Shares of 1,725 Carpenter Technology Corporation $CRS

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,725 shares of the basic materials company’s stock, valued at approximately $543,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearstead Advisors LLC grew 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 valued at $58,000 after acquiring an additional 36 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in Carpenter Technology by 3.9% during the third quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company’s stock worth $239,000 after acquiring an additional 37 shares during the last quarter. Panagora Asset Management Inc. raised its position in Carpenter Technology by 3.0% during the second quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company’s stock worth $404,000 after acquiring an additional 43 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Carpenter Technology by 0.6% in the third quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company’s stock valued at $1,639,000 after purchasing an additional 43 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its holdings in shares of Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRS has been the subject of a number of recent research reports. Wells Fargo & Company assumed coverage on shares of Carpenter Technology in a research note on Wednesday. They set an “equal weight” rating and a $400.00 price objective for the company. Susquehanna initiated coverage on Carpenter Technology in a research report on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price target for the company. KeyCorp assumed coverage on Carpenter Technology in a research report on Wednesday, March 25th. They set an “overweight” rating and a $380.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.11.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $381.12, for a total value of $1,333,920.00. Following the sale, the director directly owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction dated Tuesday, February 24th. The shares were 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 $28,889,465.42. This trade represents a 17.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,300 shares of company stock valued at $8,664,044 over the last quarter. Insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $392.38 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26. The firm has a market cap of $19.54 billion, a PE ratio of 45.57, a P/E/G ratio of 1.53 and a beta of 1.24. The firm has a 50 day simple moving average of $375.93 and a 200-day simple moving average of $326.84. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $421.12.

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

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s payout ratio is currently 9.29%.

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.