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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mission Wealth Management LP boosted its position in Carpenter Technology by 4.0% during the 1st 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. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Carpenter Technology by 27.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,953 shares of the basic materials company's stock worth $2,890,000 after purchasing an additional 3,467 shares during the last quarter. Fifth Third Bancorp boosted its position in Carpenter Technology by 13.6% during the first quarter. Fifth Third Bancorp now owns 651 shares of the basic materials company's stock valued at $118,000 after purchasing an additional 78 shares in the last quarter. GAMMA Investing LLC grew its stake in Carpenter Technology by 7.7% in the first quarter. GAMMA Investing LLC now owns 2,645 shares of the basic materials company's stock valued at $479,000 after purchasing an additional 188 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Carpenter Technology by 10.5% in the first quarter. Park Avenue Securities LLC now owns 2,728 shares of the basic materials company's stock valued at $494,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Carpenter Technology

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

Carpenter Technology Stock Up 1.5%

Shares of CRS stock traded up $4.22 during trading hours on Friday, reaching $277.57. 8,596,791 shares of the company's stock were exchanged, compared to its average volume of 810,368. Carpenter Technology Corporation has a 1 year low of $103.37 and a 1 year high of $279.65. 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 $13.82 billion, a PE ratio of 39.32, a PEG ratio of 1.11 and a beta of 1.37. The stock's fifty day moving average price is $228.30 and its two-hundred day moving average price is $200.17.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results 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 company had revenue of $727.00 million for 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%. Carpenter Technology's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. Research analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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

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

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.