2,369 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by MRA Advisory Group

MRA Advisory Group acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,369 shares of the basic materials company's stock, valued at approximately $429,000.

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

Analyst Ratings Changes

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

Carpenter Technology Stock Performance

NYSE:CRS opened at $247.04 on Friday. The stock has a market cap of $12.30 billion, a P/E ratio of 46.61, a PEG ratio of 0.93 and a beta of 1.33. 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 business's 50-day moving average price is $202.44 and its two-hundred day moving average price is $193.66. Carpenter Technology Co. has a twelve month low of $95.17 and a twelve month high of $251.55.

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

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.32%. The ex-dividend date was Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 11.33%.

Carpenter Technology announced that its Board of Directors has authorized a share buyback program on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total transaction of $678,566.78. Following the transaction, the director now directly owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.90% of the company's stock.

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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