Insider Selling: Steven E. Karol Sells 12,693 Shares of Carpenter Technology Corp. Stock (CRS)
Carpenter Technology Corp. (NYSE:CRS) Director Steven E. Karol sold 12,693 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $59.70, for a total value of $757,772.10. Following the completion of the sale, the director now directly owns 202,415 shares of the company’s stock, valued at approximately $12,084,176. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Carpenter Technology Corp. (NYSE:CRS) traded down 1.14% during mid-day trading on Tuesday, hitting $59.23. 235,508 shares of the company’s stock traded hands. Carpenter Technology Corp. has a 1-year low of $43.30 and a 1-year high of $62.95. The stock has a 50-day moving average of $59.84 and a 200-day moving average of $58.. The company has a market cap of $3.143 billion and a price-to-earnings ratio of 23.26.
Carpenter Technology Corp. (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.55. The company had revenue of $503.50 million for the quarter, compared to the consensus estimate of $487.49 million. On average, analysts predict that Carpenter Technology Corp. will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, March 6th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, February 7th.
A number of analysts have recently weighed in on CRS shares. Analysts at Zacks downgraded shares of Carpenter Technology Corp. from a “neutral” rating to an “underperform” rating in a research note on Tuesday, February 4th. They now have a $57.10 price target on the stock. Separately, analysts at Buckingham Research raised their price target on shares of Carpenter Technology Corp. to $78.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Carpenter Technology Corp. presently has a consensus rating of “Hold” and a consensus price target of $63.82.
Carpenter Technology Corporation (NYSE:CRS), is engaged in the manufacturing, fabrication and distribution of specialty metals.
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