Carpenter Technology Corporation $CRS Stake Lowered by XML Financial LLC

XML Financial LLC trimmed its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,410 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. XML Financial LLC’s holdings in Carpenter Technology were worth $3,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Meeder Advisory Services Inc. grew its stake in Carpenter Technology by 3.7% during the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after buying an additional 32 shares during the last quarter. Abel Hall LLC lifted its stake in Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after buying an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC boosted its holdings in shares of Carpenter Technology by 2.4% during the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after acquiring an additional 33 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Carpenter Technology by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after acquiring an additional 34 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of Carpenter Technology by 17.9% during the third quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 36 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 0.1%

NYSE:CRS opened at $585.78 on Monday. The stock has a market cap of $29.11 billion, a price-to-earnings ratio of 61.66, a PEG ratio of 2.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $593.18. The business has a fifty day moving average of $463.66 and a 200-day moving average of $393.44.

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

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 annualized dividend and a yield of 0.1%. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

Analyst Ratings Changes

A number of analysts recently weighed in on CRS shares. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. BTIG Research boosted their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. KeyCorp upped their target price on shares of Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. TD Cowen raised their price target on shares of Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company lifted their price target on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $458.62.

Insider Transactions at Carpenter Technology

In other news, Director Anastasios John Hart sold 750 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the transaction, the director directly owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by insiders.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.