Carpenter Technology Corporation (NYSE:CRS) Director Steven E. Karol sold 2,645 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the completion of the sale, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Carpenter Technology Corporation (NYSE:CRS) opened at 38.93 on Monday. Carpenter Technology Corporation has a 12 month low of $30.37 and a 12 month high of $45.33. The firm has a market cap of $1.82 billion, a P/E ratio of 39.32 and a beta of 2.09. The company’s 50-day moving average is $39.31 and its 200 day moving average is $37.87.

Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The firm had revenue of $507.70 million for the quarter, compared to analyst estimates of $502.40 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts expect that Carpenter Technology Corporation will post $2.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, August 18th. Carpenter Technology Corporation’s payout ratio is 72.00%.

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Several hedge funds have recently made changes to their positions in CRS. Huntington National Bank boosted its stake in shares of Carpenter Technology Corporation by 2,595.0% during the second quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 2,595 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Carpenter Technology Corporation by 64.5% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 1,097 shares in the last quarter. Elkfork Partners LLC boosted its stake in shares of Carpenter Technology Corporation by 3.3% during the first quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 102 shares in the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Carpenter Technology Corporation by 3.0% during the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 107 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Carpenter Technology Corporation by 17.4% during the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 556 shares in the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

CRS has been the topic of several recent analyst reports. Longbow Research boosted their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 28th. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Cowen and Company restated a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.50.

Carpenter Technology Corporation Company Profile

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.

Insider Buying and Selling by Quarter for Carpenter Technology Corporation (NYSE:CRS)

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