Carpenter Technology Co. (NYSE:CRS) CFO Damon J. Audia sold 10,215 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $58.86, for a total transaction of $601,254.90. Following the completion of the sale, the chief financial officer now owns 33,121 shares of the company’s stock, valued at approximately $1,949,502.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Carpenter Technology traded down $0.07, reaching $56.72, during trading on Thursday, according to Marketbeat. The stock had a trading volume of 173,800 shares, compared to its average volume of 428,201. The company has a quick ratio of 1.14, a current ratio of 2.97 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.68 billion, a PE ratio of 52.31 and a beta of 2.02. Carpenter Technology Co. has a one year low of $35.01 and a one year high of $61.49.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, April 26th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Carpenter Technology had a net margin of 8.36% and a return on equity of 8.23%. The company had revenue of $572.20 million during the quarter, compared to analyst estimates of $518.98 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. equities analysts anticipate that Carpenter Technology Co. will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 7th. Stockholders of record on Tuesday, May 1st were paid a $0.18 dividend. The ex-dividend date was Monday, April 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.27%. Carpenter Technology’s payout ratio is 66.67%.
CRS has been the topic of a number of recent analyst reports. Cowen restated a “buy” rating and set a $66.00 price objective on shares of Carpenter Technology in a research note on Friday, June 1st. ValuEngine upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Zacks Investment Research upgraded Carpenter Technology from a “sell” rating to a “hold” rating in a report on Monday, April 16th. Finally, Deutsche Bank raised their price target on Carpenter Technology from $47.00 to $49.00 and gave the company a “hold” rating in a research note on Wednesday, April 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $56.50.
Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Carpenter Technology during the first quarter valued at approximately $612,000. Principal Financial Group Inc. raised its holdings in Carpenter Technology by 3.0% in the first quarter. Principal Financial Group Inc. now owns 205,432 shares of the basic materials company’s stock valued at $9,063,000 after buying an additional 6,069 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Carpenter Technology by 70.6% in the first quarter. Xact Kapitalforvaltning AB now owns 8,216 shares of the basic materials company’s stock valued at $362,000 after buying an additional 3,400 shares during the period. Legal & General Group Plc grew its position in Carpenter Technology by 1.7% in the first quarter. Legal & General Group Plc now owns 63,529 shares of the basic materials company’s stock valued at $2,803,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Carpenter Technology during the first quarter worth approximately $378,000. Institutional investors own 96.97% of the company’s stock.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through 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.
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