Carpenter Technology Co. (NYSE:CRS) SVP James D. Dee Sells 23,518 Shares of Stock

Carpenter Technology Co. (NYSE:CRS) SVP James D. Dee sold 23,518 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total value of $2,616,612.68. Following the transaction, the senior vice president now directly owns 84,798 shares of the company’s stock, valued at approximately $9,434,625.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Carpenter Technology Stock Up 0.4 %

Shares of Carpenter Technology stock opened at $108.31 on Friday. Carpenter Technology Co. has a 1 year low of $44.40 and a 1 year high of $112.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The company has a 50-day moving average of $85.64 and a 200 day moving average of $73.27. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 41.18 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 4.31 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be paid a $0.20 dividend. The ex-dividend date is Monday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.74%. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s payout ratio is currently 30.42%.

Institutional Investors Weigh In On Carpenter Technology

Several large investors have recently bought and sold shares of CRS. Vanguard Group Inc. grew its stake in shares of Carpenter Technology by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,855,711 shares of the basic materials company’s stock valued at $393,562,000 after acquiring an additional 53,994 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Carpenter Technology by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock worth $256,072,000 after purchasing an additional 43,589 shares in the last quarter. FMR LLC raised its position in shares of Carpenter Technology by 15.9% during the 3rd quarter. FMR LLC now owns 1,545,931 shares of the basic materials company’s stock valued at $103,902,000 after purchasing an additional 212,321 shares during the period. Invesco Ltd. lifted its stake in shares of Carpenter Technology by 24.2% during the 3rd quarter. Invesco Ltd. now owns 1,331,705 shares of the basic materials company’s stock valued at $89,504,000 after buying an additional 259,330 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Carpenter Technology by 82.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock worth $68,833,000 after buying an additional 438,781 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRS. TD Cowen lifted their price target on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Northcoast Research reaffirmed a “neutral” rating on shares of Carpenter Technology in a research report on Monday, May 6th. Finally, Benchmark increased their target price on Carpenter Technology from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.