Pathway Financial Advisers LLC Acquires Shares of 4,124 Carpenter Technology Corporation $CRS

Pathway Financial Advisers LLC bought a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,124 shares of the basic materials company’s stock, valued at approximately $1,626,000.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its position in shares of Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 36 shares in the last quarter. Armstrong Advisory Group Inc. raised its position 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 valued at $37,000 after acquiring an additional 43 shares in the last quarter. Spire Wealth Management lifted its stake in Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 84 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Carpenter Technology during the second quarter worth $43,000. Institutional investors own 92.03% of the company’s stock.

Insider Activity at Carpenter Technology

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

Carpenter Technology Trading Up 2.3%

Carpenter Technology stock opened at $605.15 on Tuesday. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $608.52. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 63.70, a PEG ratio of 2.04 and a beta of 1.25. The firm has a 50-day moving average price of $482.35 and a two-hundred day moving average price of $405.32.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. Carpenter Technology’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. Sell-side analysts expect that Carpenter Technology Corporation will post 10.56 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is 8.42%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRS shares. Wells Fargo & Company boosted their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. TD Cowen raised their price target on shares of Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. BTIG Research lifted their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Susquehanna boosted their price objective on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average target price of $458.62.

Carpenter Technology 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.