Carpenter Technology Corporation (NYSE:CRS) Shares Sold by Roman Butler Fullerton & Co.

Roman Butler Fullerton & Co. lessened its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,456 shares of the basic materials company's stock after selling 5,510 shares during the quarter. Roman Butler Fullerton & Co.'s holdings in Carpenter Technology were worth $779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CRS. Rhumbline Advisers boosted its position in shares of Carpenter Technology by 12.8% during the 4th quarter. Rhumbline Advisers now owns 166,362 shares of the basic materials company's stock valued at $28,233,000 after acquiring an additional 18,820 shares during the last quarter. Allworth Financial LP boosted its position in shares of Carpenter Technology by 31,309.1% during the 4th quarter. Allworth Financial LP now owns 6,910 shares of the basic materials company's stock valued at $1,173,000 after acquiring an additional 6,888 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Carpenter Technology during the 4th quarter valued at about $193,000. CIBC Asset Management Inc boosted its position in shares of Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 78 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology during the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Trading Up 0.9%

NYSE CRS traded up $2.22 during trading hours on Friday, reaching $253.19. The company had a trading volume of 1,147,959 shares, compared to its average volume of 777,695. The stock has a 50-day moving average of $220.82 and a 200 day moving average of $198.15. Carpenter Technology Corporation has a 1-year low of $97.84 and a 1-year high of $256.52. 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 capitalization of $12.60 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37.

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, beating analysts' consensus estimates of $1.74 by $0.14. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The company had revenue of $727.00 million for the quarter, compared to analysts' expectations of $729.67 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. Carpenter Technology's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.20 per share. The ex-dividend date was 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%.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on CRS shares. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday. Benchmark upped their target price 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. Finally, Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research report on Thursday, June 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $244.75.

Insiders Place Their Bets

In other Carpenter Technology news, Director Anastasios John Hart sold 1,000 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $678,566.78. Following the sale, the director now owns 6,732 shares in the company, 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. Insiders own 2.90% of the company's stock.

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.