Carpenter Technology Co. (NYSE:CRS) CFO Timothy Lain Acquires 3,250 Shares

Carpenter Technology Co. (NYSE:CRS) CFO Timothy Lain purchased 3,250 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was purchased at an average price of $18.18 per share, with a total value of $59,085.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Carpenter Technology stock traded up $0.54 during trading on Thursday, reaching $20.94. The company’s stock had a trading volume of 23,159 shares, compared to its average volume of 532,414. The company has a 50-day moving average price of $34.34 and a two-hundred day moving average price of $46.28. The firm has a market cap of $925.39 million, a PE ratio of 5.75 and a beta of 2.10. Carpenter Technology Co. has a fifty-two week low of $13.60 and a fifty-two week high of $56.33. The company has a current ratio of 2.72, a quick ratio of 0.92 and a debt-to-equity ratio of 0.34.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Carpenter Technology had a net margin of 7.47% and a return on equity of 10.89%. The business had revenue of $573.00 million during the quarter, compared to analyst estimates of $575.83 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Carpenter Technology Co. will post 3.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Monday, February 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.82%. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, January 31st. Carpenter Technology’s dividend payout ratio (DPR) is 23.12%.

A number of research firms have weighed in on CRS. Zacks Investment Research raised their price objective on shares of Carpenter Technology to $56.00 in a report on Wednesday, January 22nd. They noted that the move was a valuation call. TheStreet cut shares of Carpenter Technology from a “b-” rating to a “c+” rating in a report on Monday, March 9th. ValuEngine cut shares of Carpenter Technology from a “hold” rating to a “sell” rating in a report on Monday, March 9th. Benchmark began coverage on shares of Carpenter Technology in a report on Thursday, January 16th. They set a “hold” rating on the stock. Finally, Longbow Research cut shares of Carpenter Technology from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.50.

A number of large investors have recently bought and sold shares of CRS. Acadian Asset Management LLC purchased a new position in Carpenter Technology in the 4th quarter worth approximately $114,000. Sciencast Management LP acquired a new stake in Carpenter Technology in the 4th quarter valued at $203,000. Algert Global LLC acquired a new stake in Carpenter Technology in the 4th quarter valued at $208,000. Duality Advisers LP acquired a new stake in Carpenter Technology in the 4th quarter valued at $214,000. Finally, Virtu Financial LLC acquired a new stake in Carpenter Technology in the 4th quarter valued at $215,000. Hedge funds and other institutional investors own 92.00% of the company’s stock.

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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