Valmark Advisers Inc. Purchases Shares of 1,167 Carpenter Technology Corporation $CRS

Valmark Advisers Inc. acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,167 shares of the basic materials company’s stock, valued at approximately $460,000.

Several other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Carpenter Technology during the first quarter worth about $30,000. SJS Investment Consulting Inc. increased its holdings in Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after buying an additional 36 shares during the period. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the 2nd quarter worth approximately $28,000. Armstrong Advisory Group Inc. raised its position in Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Finally, Spire Wealth Management raised its position in Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after buying an additional 84 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carpenter Technology

In related news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the transaction, the director owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRS shares. KeyCorp raised their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. TD Cowen lifted their price objective on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research note on Monday. Finally, BTIG Research boosted their price objective on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $556.75.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $575.60 on Wednesday. The firm’s 50 day simple moving average is $517.95 and its 200-day simple moving average is $426.26. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98. The stock has a market capitalization of $28.60 billion, a price-to-earnings ratio of 60.59, a PEG ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. Analysts expect that Carpenter Technology Corporation will post 10.56 EPS for the current year.

Carpenter Technology Dividend Announcement

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

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.