2,817 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by Lido Advisors LLC

Lido Advisors LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,817 shares of the basic materials company's stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRS. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the 4th quarter worth $25,000. CIBC Private Wealth Group LLC increased its position 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. UMB Bank n.a. raised its stake in Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology during the 3rd quarter worth approximately $80,000. Finally, Fifth Third Bancorp grew its stake in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Trading Up 1.6 %

Shares of Carpenter Technology stock traded up $3.31 during mid-day trading on Friday, hitting $212.49. 722,176 shares of the stock were exchanged, compared to its average volume of 872,383. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 40.09, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. The company has a 50-day simple moving average of $183.79 and a 200 day simple moving average of $184.45. Carpenter Technology Co. has a twelve month low of $95.17 and a twelve month high of $215.96.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data 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. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The business had revenue of $727.00 million for the quarter, compared to analysts' expectations of $729.67 million. During the same quarter last year, the firm earned $1.19 earnings per share. The business's revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology announced that its Board of Directors has initiated a share buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.38%. Carpenter Technology's dividend payout ratio (DPR) is presently 11.33%.

Insider Activity

In other news, Director I Martin Inglis sold 3,433 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total value of $678,566.78. Following the completion of the sale, the director now owns 6,732 shares of the company's stock, valued at $1,330,647.12. This represents a 33.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. Finally, Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $168.00.

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.