Anastasios John Hart Sells 750 Shares of Carpenter Technology (NYSE:CRS) Stock

Key Points

• Anastasios John Hart sold 750 shares on May 4 at an average price of $423.86 for proceeds of $317,895, cutting his stake by 50% and leaving him with 750 shares.
• Carpenter beat EPS with $2.77 versus $2.59 consensus but missed revenue at $655.6M (vs. $797M estimate); shares traded at $458.52 mid‑day, near a 12‑month high, with a market cap of $22.78B and a P/E of 48.27.
• Analysts have raised price targets (consensus rating: "Moderate Buy" with a $438.78 target) and the company announced a quarterly dividend of $0.20 ($0.80 annualized, 0.2% yield) payable June 4.

Carpenter Technology Corporation (NYSE:CRS - Get Free Report) Director Anastasios John Hart sold 750 shares of the firm's stock in a transaction that occurred on 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 sale, the director directly owned 750 shares in the company, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded up $13.53 during mid-day trading on Wednesday, hitting $458.52. The company had a trading volume of 684,480 shares, compared to its average volume of 797,779. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 48.27, a PEG ratio of 1.60 and a beta of 1.24. Carpenter Technology Corporation has a 12 month low of $204.47 and a 12 month high of $461.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The firm's 50 day simple moving average is $405.47 and its two-hundred day simple moving average is $353.27.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. The business had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. As a group, equities research analysts forecast that Carpenter Technology Corporation will post 10.43 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology's payout ratio is presently 8.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on CRS. Wells Fargo & Company lifted their target price on Carpenter Technology from $400.00 to $425.00 and gave the company an "equal weight" rating in a research note on Monday. Wall Street Zen raised Carpenter Technology from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. BTIG Research lifted their target price on Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. TD Cowen lifted their price target on Carpenter Technology from $430.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, KeyCorp lifted their price target on Carpenter Technology from $453.00 to $459.00 and gave the company an "overweight" rating in a research report on Monday. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.78.

Institutional Trading of Carpenter Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Carpenter Technology in the first quarter worth $30,000. SJS Investment Consulting Inc. boosted its position in shares of Carpenter Technology by 81.8% in the first 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 stake in Carpenter Technology during the second quarter valued at $28,000. Armstrong Advisory Group Inc. boosted its position in Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Spire Wealth Management boosted its position in Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

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.

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