3,740 Shares in Carpenter Technology Corporation (NYSE:CRS) Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. purchased a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,740 shares of the basic materials company's stock, valued at approximately $678,000.

A number of other large investors have also recently modified their holdings of CRS. EverSource Wealth Advisors LLC grew its position in Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 71 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Carpenter Technology by 27.3% during the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after acquiring an additional 77 shares in the last quarter. Mission Wealth Management LP boosted its holdings in Carpenter Technology by 4.0% in the first quarter. Mission Wealth Management LP now owns 2,008 shares of the basic materials company's stock valued at $364,000 after acquiring an additional 78 shares in the last quarter. Fifth Third Bancorp raised its holdings in Carpenter Technology by 13.6% in the 1st quarter. Fifth Third Bancorp now owns 651 shares of the basic materials company's stock worth $118,000 after purchasing an additional 78 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of Carpenter Technology by 4.6% in the 4th quarter. EP Wealth Advisors LLC now owns 2,168 shares of the basic materials company's stock worth $368,000 after purchasing an additional 95 shares during the period. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Performance

NYSE:CRS traded up $3.28 during mid-day trading on Wednesday, reaching $275.03. The company's stock had a trading volume of 80,893 shares, compared to its average volume of 800,147. The firm's fifty day moving average price is $234.51 and its two-hundred day moving average price is $202.33. The company has a current ratio of 3.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.39. The stock has a market cap of $13.69 billion, a P/E ratio of 38.94, a PEG ratio of 1.16 and a beta of 1.39. Carpenter Technology Corporation has a 12-month low of $103.37 and a 12-month high of $279.51.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.14. The business had revenue of $727.00 million during the quarter, compared to the consensus estimate of $729.67 million. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The firm's revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, equities analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology announced that its board 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 reacquire up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd were given a $0.20 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.29%. Carpenter Technology's payout ratio is 11.33%.

Insider Activity

In other Carpenter Technology news, Director Anastasios John Hart sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $243.72, for a total transaction of $243,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director I Martin Inglis sold 3,433 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total value of $678,566.78. Following the completion of the sale, the director owned 6,732 shares of the company's stock, valued at $1,330,647.12. This trade represents a 33.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CRS has been the subject of a number of research reports. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Cowen reissued a "buy" rating on shares of Carpenter Technology in a research report on Thursday, June 12th. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Finally, Benchmark raised their price target on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $278.33.

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.