State of Wyoming Sells 2,257 Shares of Carpenter Technology Corporation $CRS

State of Wyoming trimmed its holdings in Carpenter Technology Corporation (NYSE:CRS) by 66.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,144 shares of the basic materials company’s stock after selling 2,257 shares during the quarter. State of Wyoming’s holdings in Carpenter Technology were worth $360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new position in Carpenter Technology in the 2nd quarter worth approximately $28,000. Armstrong Advisory Group Inc. raised its holdings 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 acquiring an additional 43 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 84 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $43,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $45,000. 92.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director owned 750 shares of the company’s stock, valued at $317,895. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. This trade represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $500.18 on Tuesday. The stock’s fifty day moving average is $433.74 and its 200 day moving average is $377.93. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $501.79. The firm has a market capitalization of $24.85 billion, a PE ratio of 52.65, a PEG ratio of 1.79 and a beta of 1.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the prior year, the firm posted $1.88 EPS. Carpenter Technology’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Carpenter Technology Corporation will post 10.55 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is 8.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. KeyCorp upped their price objective on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Susquehanna upped their price objective on Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a report on Thursday, April 30th. Finally, BTIG Research upped their price objective on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $458.63.

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