2,149 Shares in Carpenter Technology Corporation $CRS Acquired by TrueWealth Advisors LLC

Key Points

• TrueWealth Advisors LLC acquired 2,149 shares of Carpenter Technology Corporation, valued at approximately $594,000, during the 2nd quarter.
• Insider trading activity saw Director I Martin Inglis sell 5,691 shares for over $1.39 million, representing a 45.81% decrease in his position.
• Carpenter Technology reported a quarterly EPS of $2.21, beating estimates, while its revenue decreased 5.4% compared to the same quarter last year.

TrueWealth Advisors LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,149 shares of the basic materials company's stock, valued at approximately $594,000.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Carpenter Technology in the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. bought a new stake in Carpenter Technology in the first quarter valued at $36,000. Bessemer Group Inc. grew its position in Carpenter Technology by 50.3% in the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 77 shares during the period. Ameriflex Group Inc. bought a new stake in Carpenter Technology in the fourth quarter valued at $44,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Carpenter Technology in the first quarter valued at $49,000. 92.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Director I Martin Inglis sold 5,691 shares of Carpenter Technology stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the completion of the sale, the director directly owned 6,732 shares of the company's stock, valued at approximately $1,646,243.28. This trade represents a 45.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven E. Karol sold 3,433 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director owned 180,000 shares in the company, valued at approximately $44,240,400. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,124 shares of company stock valued at $6,890,250 over the last three months. Insiders own 2.90% of the company's stock.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $240.09 on Friday. The stock has a 50 day moving average price of $257.68 and a 200 day moving average price of $227.86. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $290.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. The stock has a market capitalization of $11.97 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The firm had revenue of $755.60 million during the quarter, compared to analysts' expectations of $790.73 million. During the same period in the prior year, the firm posted $1.82 earnings per share. The business's quarterly revenue was down 5.4% compared to the same quarter last year. Analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Tuesday, August 26th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, August 26th. Carpenter Technology's dividend payout ratio (DPR) is presently 10.78%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Cowen reissued a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. BTIG Research reissued a "buy" rating on shares of Carpenter Technology in a research note on Monday, August 4th. Finally, Benchmark increased their price target on Carpenter Technology from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $278.33.

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.

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