HORAN Wealth LLC Acquires Shares of 1,000 Carpenter Technology Corporation $CRS

HORAN Wealth LLC acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,000 shares of the basic materials company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Carpenter Technology in the first quarter valued at approximately $31,000. IMA Advisory Services Inc. purchased a new stake in Carpenter Technology in the first quarter valued at approximately $36,000. Strategic Investment Solutions Inc. IL purchased a new stake in Carpenter Technology in the first quarter valued at approximately $49,000. Hantz Financial Services Inc. lifted its stake in Carpenter Technology by 1,657.9% in the second quarter. Hantz Financial Services Inc. now owns 334 shares of the basic materials company’s stock valued at $92,000 after buying an additional 315 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology in the first quarter valued at approximately $71,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 3.0%

Shares of CRS stock opened at $315.77 on Thursday. The business’s fifty day moving average price is $257.79 and its 200 day moving average price is $250.09. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $330.50. The firm has a market capitalization of $15.73 billion, a PE ratio of 38.60, a P/E/G ratio of 1.41 and a beta of 1.47. 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 (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The firm had revenue of $733.70 million for the quarter, compared to analyst estimates of $741.18 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. Carpenter Technology’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $0.80 annualized dividend and a yield of 0.3%. Carpenter Technology’s dividend payout ratio is 9.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CRS shares. TD Cowen upped their price target on Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Jones Trading started coverage on Carpenter Technology in a research note on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.67.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, CEO Tony R. Thene sold 19,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the sale, the chief executive officer owned 535,019 shares of the company’s stock, valued at approximately $131,074,304.81. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the sale, the director directly owned 180,000 shares in the company, valued at $44,240,400. This trade represents a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,124 shares of company stock valued at $6,890,250. Insiders own 2.90% of the company’s stock.

Carpenter Technology 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.