Marshall Financial Group LLC Acquires Shares of 4,356 Carpenter Technology Corporation $CRS

Key Points

• Marshall Financial Group bought a new position of 4,356 Carpenter Technology shares valued at about $1.37 million, and institutional investors now own roughly 92.03% of the company's stock.
• Analysts are broadly positive: the consensus rating is a “Moderate Buy” with a $385.50 target after several firms initiated coverage or raised price targets (e.g., Susquehanna $470, JPMorgan $394).
• Carpenter beat Q4 EPS ($2.33 vs. $2.20) with revenue up 7.5% year-over-year, announced a $0.20 quarterly dividend (0.2% yield), but insiders have recently sold 22,300 shares totaling about $8.66 million.

Marshall Financial Group LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,356 shares of the basic materials company's stock, valued at approximately $1,371,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC lifted its position in Carpenter Technology by 17.9% in the third quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 36 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in Carpenter Technology by 3.9% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company's stock valued at $239,000 after purchasing an additional 37 shares in the last quarter. Panagora Asset Management Inc. increased its position in Carpenter Technology by 3.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company's stock worth $404,000 after purchasing an additional 43 shares during the period. Independent Advisor Alliance increased its position in Carpenter Technology by 0.6% during the 3rd quarter. Independent Advisor Alliance now owns 6,674 shares of the basic materials company's stock worth $1,639,000 after purchasing an additional 43 shares during the period. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock worth $37,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CRS. Susquehanna assumed coverage on Carpenter Technology in a report on Tuesday, March 3rd. They issued a "positive" rating and a $470.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $388.00 to $394.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. BTIG Research raised their target price on Carpenter Technology from $365.00 to $375.00 and gave the company a "buy" rating in a report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised shares of Carpenter Technology from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.50.

Carpenter Technology Stock Down 4.1%

CRS opened at $362.49 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.26 and a current ratio of 4.25. The company has a market cap of $18.06 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 1.42 and a beta of 1.22. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $412.31. The business's fifty day moving average is $364.25 and its two-hundred day moving average is $317.16.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.13. The business had revenue of $728.00 million during the quarter, compared to analysts' expectations of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.66 earnings per share. Analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology's dividend payout ratio (DPR) is 9.29%.

Insider Transactions at Carpenter Technology

In other news, SVP James D. Dee sold 15,800 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the sale, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. This represents a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven E. Karol sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the transaction, the director directly owned 225,381 shares of the company's stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,300 shares of company stock valued at $8,664,044. 2.90% of the stock is currently owned by company insiders.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.