Whitaker Myers Wealth Managers LTD. Purchases 1,406 Shares of Carpenter Technology Corporation $CRS

Whitaker Myers Wealth Managers LTD. increased its position in Carpenter Technology Corporation (NYSE:CRS) by 43.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,650 shares of the basic materials company’s stock after buying an additional 1,406 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Carpenter Technology were worth $1,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Carpenter Technology by 10.1% in the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock worth $514,687,000 after buying an additional 192,533 shares during the period. SurgoCap Partners LP boosted its holdings in Carpenter Technology by 29.5% in the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock worth $294,377,000 after buying an additional 272,896 shares during the period. Ameriprise Financial Inc. boosted its holdings in Carpenter Technology by 20.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock worth $154,840,000 after buying an additional 107,552 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Carpenter Technology by 111.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock worth $151,731,000 after buying an additional 325,919 shares during the period. Finally, Barclays PLC boosted its holdings in Carpenter Technology by 5.8% in the 3rd quarter. Barclays PLC now owns 591,981 shares of the basic materials company’s stock worth $145,355,000 after buying an additional 32,645 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 1.0%

Shares of NYSE:CRS opened at $431.98 on Friday. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. Carpenter Technology Corporation has a 12 month low of $163.06 and a 12 month high of $442.88. The company has a 50-day moving average price of $382.16 and a 200 day moving average price of $330.95. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 1.68 and a beta of 1.24.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. During the same quarter last year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.29%.

Insider Transactions at Carpenter Technology

In related news, Director Steven E. Karol sold 3,500 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the completion of the transaction, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James D. Dee sold 15,800 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the completion of the transaction, the senior vice president directly owned 73,739 shares of the company’s stock, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,300 shares of company stock valued at $8,664,044. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. KeyCorp increased their price objective on shares of Carpenter Technology from $380.00 to $453.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company assumed coverage on shares of Carpenter Technology in a report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Finally, Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.22.

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.