Raymond James Financial Inc. Has $21.64 Million Holdings in Carpenter Technology Corporation $CRS

Key Points

• Raymond James Financial increased its stake in Carpenter Technology Corporation by 8.2%, owning 119,448 shares valued at approximately $21.6 million after acquiring an additional 9,079 shares.
• The CEO, Tony R. Thene, sold 19,000 shares at an average price of $244.99, reducing his ownership by 3.43%.
• Carpenter Technology recently announced a quarterly dividend of $0.20 per share, with an ex-dividend date of August 26th, reflecting a modest yield of 0.3%.

Raymond James Financial Inc. raised its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,448 shares of the basic materials company's stock after buying an additional 9,079 shares during the quarter. Raymond James Financial Inc. owned 0.24% of Carpenter Technology worth $21,641,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CRS. IMA Advisory Services Inc. acquired a new position in Carpenter Technology in the 1st quarter valued at approximately $36,000. Bessemer Group Inc. lifted its stake in 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 during the last quarter. Ameriflex Group Inc. acquired a new stake in Carpenter Technology in the fourth quarter valued at approximately $44,000. Strategic Investment Solutions Inc. IL acquired a new stake in Carpenter Technology in the first quarter valued at approximately $49,000. Finally, Versant Capital Management Inc lifted its stake in 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 acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Transactions at Carpenter Technology

In other 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 transaction of $243,720.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the sale, the chief executive officer directly owned 535,019 shares in the company, valued at $131,074,304.81. The trade was a 3.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,691 shares of company stock valued at $6,290,207. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Stock Performance

Shares of CRS stock traded down $1.73 during trading hours on Friday, reaching $240.83. 632,300 shares of the company's stock were exchanged, compared to its average volume of 864,842. Carpenter Technology Corporation has a fifty-two week low of $129.57 and a fifty-two week high of $290.84. The stock has a market capitalization of $12.01 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.10 and a beta of 1.44. The business has a fifty day moving average price of $263.51 and a 200-day moving average price of $224.71. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.18. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The company had revenue of $755.60 million during the quarter, compared to analyst estimates of $790.73 million. During the same period in the previous year, the company earned $1.82 earnings per share. The company's quarterly revenue was down 5.4% compared to the same quarter last year. Analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology's payout ratio is 10.78%.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Cowen reiterated a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. BTIG Research reiterated a "buy" rating on shares of Carpenter Technology in a report on Monday, August 4th. Finally, Benchmark increased 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $278.33.

Carpenter Technology Company 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.