Carpenter Technology Co. (NYSE:CRS) Stock Holdings Lessened by Veracity Capital LLC

Veracity Capital LLC reduced its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,793 shares of the basic materials company's stock after selling 1,307 shares during the quarter. Veracity Capital LLC's holdings in Carpenter Technology were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.

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 position in Carpenter Technology in the 4th quarter valued at 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 acquiring an additional 127 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Carpenter Technology during the fourth quarter worth approximately $44,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 77 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Trading Up 0.2%

CRS stock traded up $0.44 during trading on Thursday, reaching $247.04. 669,090 shares of the stock traded hands, compared to its average volume of 770,926. The firm has a market capitalization of $12.30 billion, a PE ratio of 46.61, a P/E/G ratio of 0.93 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business's 50 day moving average price is $201.13 and its 200-day moving average price is $193.19. Carpenter Technology Co. has a 52-week low of $95.17 and a 52-week high of $250.39.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.14. The business had revenue of $727.00 million for 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%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 EPS. As a group, sell-side analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology announced that its Board of Directors has initiated a stock buyback 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 buy up to 4% of its stock through open market purchases. Stock buyback plans are typically 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 will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.32%. Carpenter Technology's dividend payout ratio (DPR) is presently 11.33%.

Insider Buying and Selling at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total value of $678,566.78. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRS. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $240.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.