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

Carpenter Technology Co. (NYSE:CRS - Get Free Report) Director Anastasios John Hart sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $243.72, for a total value of $243,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Carpenter Technology Price Performance

Shares of NYSE:CRS traded up $0.89 during midday trading on Monday, reaching $249.61. The company's stock had a trading volume of 768,699 shares, compared to its average volume of 780,100. The business's fifty day simple moving average is $212.39 and its 200-day simple moving average is $196.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a fifty-two week low of $95.17 and a fifty-two week high of $256.52. The company has a market capitalization of $12.43 billion, a P/E ratio of 47.10, a P/E/G ratio of 0.93 and a beta of 1.37.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share 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 during the quarter, compared to analysts' expectations of $729.67 million. During the same quarter last year, the company posted $1.19 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Carpenter Technology declared that its Board of Directors has approved a share buyback plan 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 purchase up to 4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Egerton Capital UK LLP acquired a new position in shares of Carpenter Technology during the first quarter valued at $329,727,000. FMR LLC raised its holdings in Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock worth $754,295,000 after purchasing an additional 979,313 shares during the last quarter. SurgoCap Partners LP boosted its stake in shares of 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 valued at $244,734,000 after purchasing an additional 779,357 shares during the last quarter. Norges Bank acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $100,505,000. Finally, Invesco Ltd. grew its position in shares of Carpenter Technology by 37.1% during the 1st quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company's stock worth $381,869,000 after buying an additional 570,441 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

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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