State of Alaska Department of Revenue purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,471 shares of the basic materials company’s stock, valued at approximately $437,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of CRS. Point72 Asset Management L.P. purchased a new stake in Carpenter Technology during the second quarter valued at about $29,000. Point72 Hong Kong Ltd purchased a new stake in Carpenter Technology during the second quarter valued at about $85,000. Macquarie Group Ltd. purchased a new stake in shares of Carpenter Technology during the second quarter worth about $182,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Carpenter Technology during the second quarter worth about $203,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Carpenter Technology by 6.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,233 shares of the basic materials company’s stock worth $203,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 92.25% of the company’s stock.
Carpenter Technology stock opened at $51.54 on Friday. The company has a current ratio of 2.97, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $51.29 and a 200-day moving average of $47.93. The firm has a market cap of $2.48 billion, a P/E ratio of 15.88 and a beta of 2.36. Carpenter Technology Co. has a 1-year low of $32.77 and a 1-year high of $56.33.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. Carpenter Technology’s dividend payout ratio is currently 23.12%.
In other news, Director Steven E. Karol sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the director now directly owns 230,543 shares in the company, valued at $12,679,865. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.90% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Carpenter Technology from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a report on Wednesday. ValuEngine upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Carpenter Technology presently has an average rating of “Hold” and a consensus price target of $54.00.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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