1,263 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by NBC Securities Inc.

NBC Securities Inc. purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,263 shares of the basic materials company's stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Carpenter Technology during the 4th quarter worth about $25,000. CIBC Private Wealth Group LLC boosted its position in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Carpenter Technology during the fourth quarter worth approximately $44,000. Versant Capital Management Inc grew its holdings in Carpenter Technology by 27.3% in the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after purchasing an additional 77 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Carpenter Technology by 11.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock valued at $114,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Price Performance

Shares of NYSE CRS traded up $1.72 during midday trading on Friday, hitting $248.78. The stock had a trading volume of 497,249 shares, compared to its average volume of 774,119. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $203.76 and a 200-day simple moving average of $194.20. The company has a market capitalization of $12.38 billion, a PE ratio of 46.94, a P/E/G ratio of 0.93 and a beta of 1.37. Carpenter Technology Co. has a 1 year low of $95.17 and a 1 year high of $252.63.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The company had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. During the same quarter last year, the firm posted $1.19 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology declared that its Board of Directors has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Carpenter Technology Dividend Announcement

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

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction that occurred on 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 directly 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 document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRS has been the subject of several research analyst reports. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and a consensus target price of $168.00.

Carpenter Technology 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.