Carpenter Technology Corporation (NYSE:CRS) Director Steven E. Karol sold 3,877 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now owns 230,418 shares in the company, valued at $9,258,195.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Carpenter Technology Corporation (NYSE CRS) traded down 0.55% during trading on Friday, hitting $38.19. 47,581 shares of the stock traded hands. The company has a 50 day moving average of $38.29 and a 200-day moving average of $38.16. Carpenter Technology Corporation has a 1-year low of $30.37 and a 1-year high of $45.34. The company has a market cap of $1.80 billion, a PE ratio of 38.58 and a beta of 2.08.
Carpenter Technology Corporation (NYSE:CRS) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The company had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Carpenter Technology Corporation will post $2.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.18 per share. The ex-dividend date is Friday, August 18th. This represents a $0.72 dividend on an annualized basis and a yield of 1.88%. Carpenter Technology Corporation’s payout ratio is presently 72.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Netols Asset Management Inc. increased its position in Carpenter Technology Corporation by 14.2% in the first quarter. Netols Asset Management Inc. now owns 135,417 shares of the basic materials company’s stock worth $5,051,000 after buying an additional 16,839 shares during the last quarter. FMR LLC increased its position in Carpenter Technology Corporation by 0.5% in the first quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock worth $176,019,000 after buying an additional 21,800 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Carpenter Technology Corporation by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,923 shares of the basic materials company’s stock worth $220,000 after buying an additional 1,028 shares during the last quarter. Chartwell Investment Partners LLC acquired a new position in Carpenter Technology Corporation during the first quarter worth about $2,686,000. Finally, Invictus RG increased its position in Carpenter Technology Corporation by 231.6% in the first quarter. Invictus RG now owns 13,014 shares of the basic materials company’s stock worth $485,000 after buying an additional 9,089 shares during the last quarter. Institutional investors own 94.95% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Longbow Research lifted their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Cowen and Company reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Finally, TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $43.50.
About Carpenter Technology Corporation
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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