Insider Selling: Carpenter Technology (NYSE:CRS) Director Sells $317,895.00 in Stock

Carpenter Technology Corporation (NYSE:CRS) Director Anastasios John Hart sold 750 shares of the firm’s 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 transaction, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carpenter Technology Price Performance

Shares of CRS stock opened at $427.94 on Friday. The firm has a market cap of $21.26 billion, a P/E ratio of 45.05, a P/E/G ratio of 1.66 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology Corporation has a 1-year low of $204.47 and a 1-year high of $475.69. The firm has a fifty day moving average of $408.00 and a two-hundred day moving average of $356.28.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million during 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%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.88 EPS. As a group, research analysts anticipate that Carpenter Technology Corporation will post 10.43 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Carpenter Technology’s dividend payout ratio (DPR) is currently 8.42%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Susquehanna raised their price target on shares of Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th. KeyCorp raised their price target on shares of Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research report on Friday, April 24th. Finally, TD Cowen raised their price target on shares of Carpenter Technology from $430.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $438.78.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRS. Jennison Associates LLC bought a new position in shares of Carpenter Technology in the 1st quarter worth about $317,411,000. Sands Capital Management LLC bought a new stake in Carpenter Technology in the 4th quarter valued at about $195,731,000. Norges Bank bought a new stake in Carpenter Technology in the 4th quarter valued at about $195,254,000. Aspex Management HK Ltd bought a new stake in Carpenter Technology in the 3rd quarter valued at about $136,215,000. Finally, TOMS Capital Investment Management LP bought a new stake in Carpenter Technology in the 2nd quarter valued at about $106,683,000. 92.03% of the stock is currently owned by institutional investors.

About Carpenter Technology

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.