Insider Selling: Carpenter Technology Co. (NYSE:CRS) VP Sells 802 Shares of 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 shares were sold at an average price of $102.11, for a total value of $81,892.22. Following the completion of the sale, the vice president now owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Carpenter Technology Stock Performance

NYSE CRS opened at $106.11 on Friday. The company has a market capitalization of $5.26 billion, a PE ratio of 40.35 and a beta of 1.47. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $77.18 and its 200 day moving average price is $70.16. Carpenter Technology Co. has a twelve month low of $44.40 and a twelve month high of $106.71.

Carpenter Technology (NYSE:CRS) last announced 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. The company had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, research analysts predict that Carpenter Technology Co. will post 3.97 earnings per share for the current year.

Carpenter Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, April 22nd. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.75%. Carpenter Technology’s dividend payout ratio is currently 30.42%.

Institutional Investors Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL acquired a new stake in Carpenter Technology during the first quarter worth about $307,000. First Eagle Investment Management LLC grew its stake in shares of Carpenter Technology by 13.2% in the first quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after buying an additional 17,400 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Carpenter Technology by 22.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,792 shares of the basic materials company’s stock valued at $1,199,000 after buying an additional 3,030 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Carpenter Technology by 7.4% in the first quarter. ProShare Advisors LLC now owns 9,878 shares of the basic materials company’s stock valued at $705,000 after buying an additional 679 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Carpenter Technology in the first quarter valued at about $4,199,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRS shares. Benchmark upped their price objective on Carpenter Technology from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Northcoast Research reiterated a “neutral” rating on shares of Carpenter Technology in a research report on Monday. Finally, TD Cowen increased their target price on Carpenter Technology from $90.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

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.