10,282 Shares in Carpenter Technology Corporation (NYSE:CRS) Purchased by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 10,282 shares of the basic materials company's stock, valued at approximately $1,863,000.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Carpenter Technology by 11.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after purchasing an additional 71 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Carpenter Technology by 27.3% in the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock worth $65,000 after purchasing an additional 77 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock worth $258,000 after purchasing an additional 78 shares in the last quarter. Mission Wealth Management LP lifted its holdings in shares of Carpenter Technology by 4.0% in the 1st quarter. Mission Wealth Management LP now owns 2,008 shares of the basic materials company's stock worth $364,000 after purchasing an additional 78 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Carpenter Technology by 13.6% in the 1st quarter. Fifth Third Bancorp now owns 651 shares of the basic materials company's stock worth $118,000 after purchasing an additional 78 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 transaction of $678,566.78. Following the completion of the sale, the director now directly owns 6,732 shares of the company's stock, valued at $1,330,647.12. This trade represents a 33.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anastasios John Hart sold 1,000 shares of the firm's 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. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

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

Carpenter Technology Stock Down 1.0%

NYSE:CRS traded down $2.48 during trading hours on Thursday, hitting $250.59. 562,806 shares of the company traded hands, compared to its average volume of 778,127. The company has a quick ratio of 1.89, a current ratio of 3.75 and a debt-to-equity ratio of 0.39. The firm's 50-day simple moving average is $219.17 and its 200-day simple moving average is $197.70. Carpenter Technology Corporation has a one year low of $95.70 and a one year high of $256.52. The company has a market cap of $12.47 billion, a PE ratio of 35.49, a PEG ratio of 1.05 and a beta of 1.37.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, beating 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 business had revenue of $727.00 million for the quarter, compared to analysts' expectations of $729.67 million. During the same period last year, the business earned $1.19 EPS. The business's revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Carpenter Technology Announces Dividend

The firm 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 presently 11.33%.

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.