1,508 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by Ground Swell Capital LLC

Ground Swell Capital LLC bought a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,508 shares of the basic materials company's stock, valued at approximately $256,000.

Other large investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Carpenter Technology in the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its stake in shares of Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after acquiring an additional 127 shares during the last quarter. UMB Bank n.a. grew its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Carpenter Technology in the 3rd quarter worth $80,000. Finally, Fifth Third Bancorp raised its holdings in Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after purchasing an additional 109 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total value of $678,566.78. Following the transaction, the director now owns 6,732 shares of the company's stock, valued at $1,330,647.12. This trade represents a 33.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Carpenter Technology Stock Up 1.6 %

CRS opened at $212.49 on Friday. The company has a market capitalization of $10.58 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. The firm has a 50-day simple moving average of $183.98 and a two-hundred day simple moving average of $184.84. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52 week low of $95.17 and a 52 week high of $215.96.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The firm had revenue of $727.00 million for the quarter, compared to analysts' expectations of $729.67 million. During the same period in the prior year, the company earned $1.19 EPS. The business's revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology announced that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 11.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRS shares. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $168.00.

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.

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