Carpenter Technology Corporation (NYSE:CRS) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,283 shares of the basic materials company's stock after acquiring an additional 1,128 shares during the period. Janney Montgomery Scott LLC's holdings in Carpenter Technology were worth $3,856,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its position in shares of Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock worth $754,295,000 after buying an additional 979,313 shares in the last quarter. SurgoCap Partners LP raised its holdings in Carpenter Technology by 117.6% during the fourth quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock worth $244,734,000 after purchasing an additional 779,357 shares in the last quarter. Norges Bank bought a new stake in Carpenter Technology during the fourth quarter worth approximately $100,505,000. GAMMA Investing LLC lifted its position in Carpenter Technology by 19,404.3% in the first quarter. GAMMA Investing LLC now owns 479,221 shares of the basic materials company's stock worth $86,825,000 after purchasing an additional 476,764 shares during the period. Finally, Freestone Grove Partners LP bought a new position in Carpenter Technology during the 4th quarter valued at $69,285,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark boosted their price objective on Carpenter Technology from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. Cowen reissued a "buy" rating on shares of Carpenter Technology in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.75.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the business's stock in a transaction dated 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 in the company, valued at $1,330,647.12. The trade was a 33.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anastasios John Hart sold 1,000 shares of Carpenter Technology stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $243.72, for a total value of $243,720.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company's stock.

Carpenter Technology Price Performance

NYSE CRS opened at $261.49 on Tuesday. The company has a current ratio of 3.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.39. Carpenter Technology Corporation has a 1 year low of $97.84 and a 1 year high of $262.03. The company has a market cap of $13.02 billion, a PE ratio of 37.04, a PEG ratio of 1.06 and a beta of 1.37. The stock's 50-day moving average price is $222.60 and its two-hundred day moving average price is $198.64.

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

Carpenter Technology Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.31%. Carpenter Technology's payout ratio is 11.33%.

Carpenter Technology announced that its board has initiated a stock repurchase plan on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.

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