Elizabeth A. Socci Sells 802 Shares of Carpenter Technology Co. (NYSE:CRS) Stock

Carpenter Technology Co. (NYSE:CRS) VP Elizabeth A. Socci sold 802 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the transaction, the vice president now directly owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Carpenter Technology Trading Up 1.0 %

Shares of NYSE:CRS opened at $103.53 on Thursday. The company’s 50-day moving average price is $76.35 and its two-hundred day moving average price is $69.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. Carpenter Technology Co. has a one year low of $44.40 and a one year high of $106.71. The stock has a market capitalization of $5.14 billion, a PE ratio of 39.37 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The firm had revenue of $684.90 million for the quarter, compared to analysts’ expectations of $707.73 million. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts forecast that Carpenter Technology Co. will post 3.97 EPS for the current fiscal year.

Carpenter Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Northcoast Research reissued a “neutral” rating on shares of Carpenter Technology in a research report on Monday. Finally, Benchmark boosted their price target on shares of Carpenter Technology from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Institutional Investors Weigh In On Carpenter Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Cape Investment Advisory Inc. bought a new stake in shares of Carpenter Technology in the 4th quarter valued at about $29,000. Whittier Trust Co. bought a new position in Carpenter Technology in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in Carpenter Technology in the 4th quarter valued at about $31,000. Westend Capital Management LLC bought a new position in Carpenter Technology in the 1st quarter valued at about $36,000. Finally, Fifth Third Bancorp raised its holdings in Carpenter Technology by 322.5% in the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 887 shares during the period. 92.03% of the stock is owned by institutional investors.

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.