Guided Capital Wealth Management LLC Acquires Shares of 11,209 Carpenter Technology Corporation (NYSE:CRS)

Guided Capital Wealth Management LLC bought a new position in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,209 shares of the basic materials company's stock, valued at approximately $2,031,000. Carpenter Technology makes up 1.7% of Guided Capital Wealth Management LLC's investment portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Pictet Asset Management Holding SA grew its holdings in Carpenter Technology by 14.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,865 shares of the basic materials company's stock valued at $1,165,000 after buying an additional 877 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Carpenter Technology during the fourth quarter worth $18,731,000. Commonwealth Equity Services LLC grew its stake in Carpenter Technology by 1.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,880 shares of the basic materials company's stock valued at $1,846,000 after acquiring an additional 160 shares in the last quarter. UMB Bank n.a. grew its stake in Carpenter Technology by 54.9% during the first quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock valued at $85,000 after acquiring an additional 167 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Carpenter Technology in the 4th quarter valued at $193,000. Institutional investors own 92.03% of the company's stock.

Insider Activity at Carpenter Technology

In related news, 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 transaction of $243,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director I Martin Inglis sold 3,433 shares of the 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 completion of the sale, the director now directly 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. 2.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CRS. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday. Benchmark raised their price target on Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.75.

Carpenter Technology Price Performance

Shares of NYSE:CRS traded down $2.48 on Thursday, reaching $250.59. The company's stock had a trading volume of 562,806 shares, compared to its average volume of 778,127. The company has a 50-day simple moving average of $217.51 and a 200 day simple moving average of $197.32. Carpenter Technology Corporation has a 52-week low of $95.70 and a 52-week high of $256.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.89 and a current ratio of 3.75. The company has a market cap of $12.47 billion, a P/E ratio of 35.49, a PEG ratio of 1.06 and a beta of 1.37.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 21.16% and a net margin of 12.26%. The company had revenue of $727.00 million during the quarter, compared to analyst estimates of $729.67 million. During the same quarter last year, the business posted $1.19 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

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

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.20 per share. 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 is currently 11.33%.

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.