Guided Capital Wealth Management LLC Invests $2.03 Million in Carpenter Technology Corporation (NYSE:CRS)

Guided Capital Wealth Management LLC bought a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,209 shares of the basic materials company's stock, valued at approximately $2,031,000. Carpenter Technology accounts for about 1.7% of Guided Capital Wealth Management LLC's portfolio, making the stock its 19th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the fourth quarter valued at $25,000. Ameriflex Group Inc. acquired a new position in shares of Carpenter Technology during the fourth quarter worth about $44,000. CIBC Private Wealth Group LLC boosted its position in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after purchasing an additional 127 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Carpenter Technology by 27.3% in the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after buying an additional 77 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Carpenter Technology by 54.9% during the 1st quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock worth $85,000 after acquiring an additional 167 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRS has been the topic of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. JPMorgan Chase & Co. increased their target price on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, Benchmark increased their price target 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $244.75.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 1,000 shares of Carpenter Technology stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $243.72, for a total value of $243,720.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director I Martin Inglis sold 3,433 shares of Carpenter Technology 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 transaction, the director now directly owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This 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 corporate insiders.

Carpenter Technology Stock Up 0.9%

CRS stock traded up $2.22 during trading on Friday, hitting $253.19. 1,147,959 shares of the stock traded hands, compared to its average volume of 777,695. The firm's 50 day moving average is $220.82 and its two-hundred day moving average is $198.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.75 and a quick ratio of 1.89. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Carpenter Technology Corporation has a 1 year low of $97.84 and a 1 year high of $256.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.14. The firm had revenue of $727.00 million during the quarter, compared to analyst estimates 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 for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. On average, sell-side analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

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

Carpenter Technology declared that its board has approved a stock buyback 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 purchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.