Lisanti Capital Growth LLC Sells 5,515 Shares of Carpenter Technology Corporation (NYSE:CRS)

Lisanti Capital Growth LLC lowered its position in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,095 shares of the basic materials company's stock after selling 5,515 shares during the period. Lisanti Capital Growth LLC's holdings in Carpenter Technology were worth $3,822,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Carpenter Technology by 50.3% in the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 77 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Carpenter Technology by 109.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock valued at $45,000 after acquiring an additional 127 shares during the period. Ameriflex Group Inc. bought a new position in Carpenter Technology during the fourth quarter worth about $44,000. Versant Capital Management Inc grew its stake in Carpenter Technology by 27.3% in the 1st 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 in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Carpenter Technology by 54.9% in the first quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock valued at $85,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRS shares. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a report on Thursday, June 12th. Benchmark raised their price target on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and a consensus target price of $278.33.

Carpenter Technology Trading Up 0.1%

NYSE:CRS traded up $0.35 during trading hours on Monday, reaching $276.17. The company's stock had a trading volume of 932,484 shares, compared to its average volume of 801,416. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 1.16 and a beta of 1.37. The firm has a 50-day simple moving average of $230.45 and a 200-day simple moving average of $201.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.89 and a current ratio of 3.75. Carpenter Technology Corporation has a 1 year low of $103.37 and a 1 year high of $282.69.

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

Carpenter Technology Announces Dividend

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

Carpenter Technology announced that its board has initiated a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the sale, the director owned 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 filing with the SEC, which is available through the SEC website. Also, Director Anastasios John Hart sold 1,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $243.72, for a total value of $243,720.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

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.