Carpenter Technology (NYSE:CRS) VP Elizabeth Socci Sells 3,900 Shares of Stock

Carpenter Technology Corporation (NYSE:CRS) VP Elizabeth Socci sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the transaction, the vice president directly owned 9,594 shares of the company’s stock, valued at $3,082,072.50. The trade was a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Carpenter Technology Price Performance

Shares of CRS traded down $2.12 during trading hours on Monday, reaching $316.43. 286,177 shares of the company traded hands, compared to its average volume of 907,017. The stock has a market capitalization of $15.76 billion, a PE ratio of 38.68, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $342.11. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $284.44 and a 200 day simple moving average of $264.52.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company had revenue of $733.70 million during the quarter, compared to the consensus estimate of $741.18 million. During the same period in the previous year, the firm posted $1.73 EPS. Carpenter Technology’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 annualized dividend and a yield of 0.3%. Carpenter Technology’s dividend payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRS shares. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Thursday, October 30th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective on the stock in a research note on Thursday, November 13th. BTIG Research increased their target price on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, Cowen reissued a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $371.14.

Institutional Investors Weigh In On Carpenter Technology

A number of institutional investors have recently added to or reduced their stakes in CRS. Prudential Financial Inc. increased its position in shares of Carpenter Technology by 43.3% during the second quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock valued at $15,500,000 after buying an additional 16,954 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Carpenter Technology during the 2nd quarter worth $1,460,000. Hancock Whitney Corp purchased a new position in shares of Carpenter Technology in the 1st quarter worth about $819,000. Graham Capital Management L.P. lifted its holdings in shares of Carpenter Technology by 175.8% in the 1st quarter. Graham Capital Management L.P. now owns 3,643 shares of the basic materials company’s stock worth $660,000 after acquiring an additional 2,322 shares during the last quarter. Finally, Titan Global Capital Management USA LLC purchased a new stake in Carpenter Technology during the 2nd quarter valued at about $2,823,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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.