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

Roman Butler Fullerton & Co. lessened its holdings in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 55.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

A number of other institutional investors also recently bought and sold shares of CRS. FMR LLC boosted its holdings in shares of Carpenter Technology by 28.3% in the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after buying an additional 979,313 shares in the last quarter. Invesco Ltd. boosted its position in shares of Carpenter Technology by 30.3% in the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock valued at $260,884,000 after purchasing an additional 357,417 shares during the period. SurgoCap Partners LP grew its stake in Carpenter Technology by 117.6% during the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock worth $244,734,000 after buying an additional 779,357 shares during the last quarter. Geode Capital Management LLC increased its position in Carpenter Technology by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock worth $193,279,000 after buying an additional 38,411 shares during the period. Finally, Third Point LLC boosted its holdings in shares of Carpenter Technology by 31.8% in the fourth quarter. Third Point LLC now owns 870,000 shares of the basic materials company's stock valued at $147,648,000 after acquiring an additional 210,000 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Carpenter Technology news, Director I Martin Inglis sold 3,433 shares of the firm'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 sale, the director now directly owns 6,732 shares in the company, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anastasios John Hart sold 1,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was 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. Company insiders own 2.90% of the company's stock.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $252.69 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.75 and a quick ratio of 1.89. Carpenter Technology Corporation has a 12 month low of $95.70 and a 12 month high of $256.52. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The stock's 50-day moving average is $215.96 and its 200-day moving average is $196.95.

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

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

Carpenter Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CRS shares. Cowen reiterated a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Benchmark upped their price target on Carpenter Technology from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.75.

About Carpenter Technology

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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