Carpenter Technology Corporation $CRS Shares Sold by XML Financial LLC

XML Financial LLC lowered its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 10.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,410 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. XML Financial LLC’s holdings in Carpenter Technology were worth $3,315,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRS. Brookstone Capital Management bought a new position in shares of Carpenter Technology during the 1st quarter valued at about $2,876,000. SG Americas Securities LLC grew its stake in shares of Carpenter Technology by 84.3% in the 1st quarter. SG Americas Securities LLC now owns 22,213 shares of the basic materials company’s stock worth $8,755,000 after purchasing an additional 10,161 shares during the last quarter. Evolve Private Wealth LLC bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $258,000. Rockefeller Capital Management L.P. raised its holdings in shares of Carpenter Technology by 325.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,332 shares of the basic materials company’s stock worth $1,364,000 after purchasing an additional 3,313 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Carpenter Technology during the fourth quarter valued at approximately $409,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRS has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Susquehanna increased their price objective on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. BTIG Research increased their price objective on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, TD Cowen lifted their target price on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $458.62.

Insider Buying and Selling

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the sale, the director directly owned 750 shares of the company’s stock, valued at $317,895. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares of the company’s stock, valued at $8,096,307.84. The trade was a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Price Performance

CRS stock opened at $585.78 on Monday. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $593.18. The firm has a market capitalization of $29.11 billion, a PE ratio of 61.66, a P/E/G ratio of 2.02 and a beta of 1.25. The firm has a 50-day moving average of $463.66 and a two-hundred day moving average of $393.44.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.88 earnings per share. On average, analysts forecast that Carpenter Technology Corporation will post 10.56 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. Carpenter Technology’s dividend payout ratio (DPR) is currently 8.42%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.