Jeffrey Wadsworth Sells 4,000 Shares of Carpenter Technology Corporation (CRS) Stock
Carpenter Technology Corporation (NYSE:CRS) Director Jeffrey Wadsworth sold 4,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $40.25, for a total value of $161,000.00. Following the completion of the sale, the director now owns 4,200 shares in the company, valued at $169,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Carpenter Technology Corporation (NYSE CRS) traded down 0.57% during midday trading on Monday, hitting $39.85. The stock had a trading volume of 273,786 shares. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 40.25 and a beta of 2.08. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $45.33. The firm’s 50 day moving average price is $38.76 and its 200 day moving average price is $37.99.
Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.08. The company had revenue of $507.70 million for the quarter, compared to analyst estimates of $502.40 million. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. Carpenter Technology Corporation’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $0.35 EPS. On average, equities research analysts expect that Carpenter Technology Corporation will post $2.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a $0.18 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.
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CRS has been the topic of several recent analyst reports. Zacks Investment Research upgraded Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, July 18th. TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Cowen and Company reiterated a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Finally, Longbow Research increased their price target on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.50.
Several institutional investors have recently made changes to their positions in CRS. BlackRock Inc. raised its position in shares of Carpenter Technology Corporation by 17,365.7% in the first quarter. BlackRock Inc. now owns 5,071,683 shares of the basic materials company’s stock worth $189,174,000 after buying an additional 5,042,645 shares during the period. FMR LLC raised its position in shares of Carpenter Technology Corporation by 0.5% in the first quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock worth $176,019,000 after buying an additional 21,800 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Carpenter Technology Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,926,931 shares of the basic materials company’s stock worth $146,473,000 after buying an additional 206,068 shares during the period. Vanguard Group Inc. raised its position in shares of Carpenter Technology Corporation by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,921,611 shares of the basic materials company’s stock worth $146,786,000 after buying an additional 12,320 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Carpenter Technology Corporation by 18.2% in the second quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock worth $61,809,000 after buying an additional 253,969 shares during the period. Institutional investors own 93.54% of the company’s stock.
About Carpenter Technology Corporation
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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