Carpenter Technology (NYSE:CRS) VP Marshall Akins Sells 11,815 Shares

Key Points

• Insider sale: Carpenter VP Marshall Akins sold 11,815 shares on May 5 at an average price of $441.36 for roughly $5.21M, cutting his position by 39.18% to 18,344 shares (SEC filing).
• Mixed quarterly results: Q1 EPS of $2.77 beat estimates by $0.18 while revenue of $655.6M missed expectations, and the stock recently traded near a 52‑week high around $458.52.
• Analyst and shareholder signals: The consensus is a "Moderate Buy" (nine Buys, two Holds) with a $438.78 target, the company announced a $0.20 quarterly dividend (0.2% yield), and institutions own about 92% of the stock.

Carpenter Technology Corporation (NYSE:CRS - Get Free Report) VP Marshall Akins sold 11,815 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the sale, the vice president owned 18,344 shares of the company's stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded up $13.53 during mid-day trading on Wednesday, reaching $458.52. 684,480 shares of the stock were exchanged, compared to its average volume of 797,779. The company has a market cap of $22.78 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $405.47 and a 200 day simple moving average of $353.27. Carpenter Technology Corporation has a fifty-two week low of $204.47 and a fifty-two week high of $461.99.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The business 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 last year, the company posted $1.88 EPS. On average, sell-side analysts predict that Carpenter Technology Corporation will post 10.43 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology's dividend payout ratio (DPR) is 8.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Carpenter Technology in a research report on Friday, April 24th. BTIG Research raised their price objective on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. TD Cowen raised their price objective on shares of Carpenter Technology from $430.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. KeyCorp raised their price objective on shares of Carpenter Technology from $453.00 to $459.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Wells Fargo & Company raised their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an "equal weight" rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.78.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRS. Meeder Advisory Services Inc. boosted its stake in shares of Carpenter Technology by 3.7% in the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company's stock valued at $280,000 after purchasing an additional 32 shares during the last quarter. Abel Hall LLC boosted its stake in shares of Carpenter Technology by 3.2% in the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company's stock valued at $321,000 after purchasing an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC boosted its stake in shares of Carpenter Technology by 2.4% in the 4th quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company's stock valued at $444,000 after purchasing an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Carpenter Technology by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company's stock valued at $3,509,000 after purchasing an additional 34 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in shares of Carpenter Technology by 17.9% in the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 36 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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