Private Advisor Group LLC Acquires 1,403 Shares of Carpenter Technology Corporation $CRS

Private Advisor Group LLC grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 57.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,862 shares of the basic materials company’s stock after acquiring an additional 1,403 shares during the quarter. Private Advisor Group LLC’s holdings in Carpenter Technology were worth $1,522,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its position in Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Carpenter Technology during the second quarter valued at approximately $28,000. Armstrong Advisory Group Inc. lifted its stake in shares of Carpenter Technology by 57.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 84 shares during the last quarter. Finally, Longview Financial Advisors Inc. purchased a new position in shares of Carpenter Technology in the 1st quarter worth approximately $55,000. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director directly owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of 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 SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Down 2.1%

CRS traded down $12.16 during trading hours on Friday, reaching $578.78. 515,330 shares of the company’s stock traded hands, compared to its average volume of 862,748. 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 firm has a 50-day moving average price of $512.58 and a 200 day moving average price of $422.29. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The firm has a market capitalization of $28.76 billion, a PE ratio of 60.92, a PEG ratio of 1.68 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 earnings per share. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 10.56 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is currently 8.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Susquehanna boosted their price objective on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. Finally, TD Cowen lifted their price target on shares of Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $504.88.

Carpenter Technology 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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.