Carpenter Technology Co. (NYSE:CRS) Shares Sold by Tlwm

Tlwm cut its position in shares of Carpenter Technology Co. (NYSE:CRS) by 1.9% during the 1st quarter, Holdings Channel reports. The firm owned 13,223 shares of the basic materials company’s stock after selling 262 shares during the period. Tlwm’s holdings in Carpenter Technology were worth $944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American International Group Inc. increased its stake in shares of Carpenter Technology by 0.7% in the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock worth $1,887,000 after acquiring an additional 188 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Carpenter Technology by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after purchasing an additional 215 shares in the last quarter. Range Financial Group LLC lifted its holdings in shares of Carpenter Technology by 2.5% during the 4th quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock valued at $760,000 after buying an additional 259 shares during the last quarter. Comerica Bank grew its stake in shares of Carpenter Technology by 1.2% in the 4th quarter. Comerica Bank now owns 24,931 shares of the basic materials company’s stock valued at $1,765,000 after buying an additional 307 shares in the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in Carpenter Technology in the fourth quarter worth approximately $29,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS traded up $0.90 during trading hours on Thursday, reaching $107.00. 720,817 shares of the company traded hands, compared to its average volume of 555,198. Carpenter Technology Co. has a 1-year low of $51.94 and a 1-year high of $112.75. The stock has a market cap of $5.31 billion, a P/E ratio of 40.68 and a beta of 1.47. The stock’s fifty day moving average is $101.54 and its 200 day moving average is $79.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 3.20.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. The company had revenue of $684.90 million during the quarter, compared to the consensus estimate of $707.73 million. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. Equities research analysts anticipate that Carpenter Technology Co. will post 4.31 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd were paid a $0.20 dividend. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.75%. Carpenter Technology’s dividend payout ratio is currently 30.42%.

Insider Activity

In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the transaction, the vice president now owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Marshall D. Akins sold 4,358 shares of Carpenter Technology stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total transaction of $445,518.34. Following the completion of the transaction, the vice president now directly owns 23,014 shares of the company’s stock, valued at approximately $2,352,721.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the sale, the vice president now directly owns 11,509 shares of the company’s stock, valued at approximately $1,175,183.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,678 shares of company stock worth $6,261,693. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

CRS has been the subject of a number of analyst reports. TD Cowen boosted their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Northcoast Research reiterated a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a report on Friday, June 14th. BTIG Research started coverage on shares of Carpenter Technology in a research note on Wednesday. They issued a “buy” rating and a $120.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a report on Tuesday. They issued a “buy” rating and a $144.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Carpenter Technology in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

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.