2,792 Shares in Carpenter Technology Corporation $CRS Bought by Havemeyer Place LP

Havemeyer Place LP purchased a new position in Carpenter Technology Corporation (NYSE:CRS) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,792 shares of the basic materials company’s stock, valued at approximately $879,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of Carpenter Technology in the second quarter worth $28,000. Armstrong Advisory Group Inc. increased its stake in shares of Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Spire Wealth Management increased its stake in shares of Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after buying an additional 84 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Carpenter Technology in the second quarter worth $43,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Carpenter Technology in the second quarter worth $45,000. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling at Carpenter Technology

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. TD Cowen boosted their target price on shares of Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. BTIG Research boosted their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $458.63.

Carpenter Technology Stock Up 3.4%

CRS stock opened at $500.18 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $501.79. The firm has a fifty day moving average price of $433.74 and a two-hundred day moving average price of $377.93. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 52.65, a PEG ratio of 1.79 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last released its 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 net margin of 15.82% and a return on equity of 25.02%. The firm had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts predict that Carpenter Technology Corporation will post 10.55 EPS for the current year.

Carpenter Technology Dividend Announcement

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

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