IFP Advisors Inc Sells 1,272 Shares of Carpenter Technology Corporation $CRS

IFP Advisors Inc reduced its holdings in Carpenter Technology Corporation (NYSE:CRS) by 92.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111 shares of the basic materials company’s stock after selling 1,272 shares during the period. IFP Advisors Inc’s holdings in Carpenter Technology were worth $35,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $28,000. Armstrong Advisory Group Inc. grew its holdings in shares of Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 84 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $43,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $45,000. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on CRS shares. KeyCorp lifted their price objective on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Susquehanna lifted their price objective on Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a report on Thursday, April 30th. Weiss Ratings raised Carpenter Technology from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 8th. BTIG Research lifted their price objective on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $441.00.

Insider Buying and Selling

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

Carpenter Technology Trading Up 0.0%

NYSE:CRS opened at $487.01 on Wednesday. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $495.58. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $423.34 and a two-hundred day moving average price of $372.24. The company has a market cap of $24.20 billion, a P/E ratio of 51.26, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 earnings per share. As a group, analysts expect that Carpenter Technology Corporation will post 10.54 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 28th. 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 8.42%.

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.