Veracity Capital LLC Has $868,000 Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Veracity Capital LLC cut its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,793 shares of the basic materials company's stock after selling 1,307 shares during the period. Veracity Capital LLC's holdings in Carpenter Technology were worth $868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in Carpenter Technology in the 4th quarter valued at $44,000. CIBC Private Wealth Group LLC boosted its stake in Carpenter Technology by 109.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after buying an additional 127 shares in the last quarter. Versant Capital Management Inc boosted its stake in Carpenter Technology by 27.3% in the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after buying an additional 77 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Carpenter Technology by 11.9% in the 4th 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. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Carpenter Technology stock traded up $1.72 on Friday, reaching $248.78. The company's stock had a trading volume of 497,249 shares, compared to its average volume of 774,119. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 46.94, a PEG ratio of 0.93 and a beta of 1.37. The business's fifty day moving average price is $203.76 and its 200 day moving average price is $194.20. Carpenter Technology Co. has a twelve month low of $95.17 and a twelve month high of $252.63.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Equities analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Carpenter Technology Dividend Announcement

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

Insiders Place Their Bets

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the business'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 transaction, the director now owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. The trade was a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

CRS has been the topic of several recent 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. boosted their price target on Carpenter Technology from $240.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $168.00.

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.