Anastasios John Hart Sells 1,000 Shares of Carpenter Technology Co. (NYSE:CRS) Stock

Carpenter Technology Co. (NYSE:CRS) Director Anastasios John Hart sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $243.72, for a total value of $243,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carpenter Technology Stock Up 0.4%

Carpenter Technology stock traded up $0.89 during trading hours on Monday, hitting $249.61. 768,699 shares of the stock traded hands, compared to its average volume of 780,100. The company has a market cap of $12.43 billion, a PE ratio of 47.10, a PEG ratio of 0.93 and a beta of 1.37. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $212.39 and its two-hundred day moving average price is $196.17. Carpenter Technology Co. has a one year low of $95.17 and a one year high of $256.52.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The business had revenue of $727.00 million during the quarter, compared to the consensus estimate of $729.67 million. During the same quarter in the prior year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology declared that its Board of Directors has initiated a share buyback program on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.32%. The ex-dividend date was Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is 11.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRS shares. JPMorgan Chase & Co. increased their target price on shares of Carpenter Technology from $240.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Benchmark raised their price objective on Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a report on Thursday. Finally, Northcoast Research upgraded Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.75.

Institutional Investors Weigh In On Carpenter Technology

Institutional investors have recently made changes to their positions in the company. Egerton Capital UK LLP bought a new stake in shares of Carpenter Technology in the 1st quarter worth $329,727,000. FMR LLC increased its holdings in Carpenter Technology by 28.3% in the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company’s stock worth $754,295,000 after buying an additional 979,313 shares in the last quarter. SurgoCap Partners LP increased its holdings in Carpenter Technology by 117.6% in the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company’s stock worth $244,734,000 after buying an additional 779,357 shares in the last quarter. Norges Bank purchased a new position in Carpenter Technology in the 4th quarter worth about $100,505,000. Finally, Invesco Ltd. lifted its stake in Carpenter Technology by 37.1% during the 1st quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock valued at $381,869,000 after acquiring an additional 570,441 shares during the period. Hedge funds and other institutional investors own 92.03% 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.