Steven E. Karol Sells 2,645 Shares of Carpenter Technology Corporation (CRS) Stock
Carpenter Technology Corporation (NYSE:CRS) Director Steven E. Karol sold 2,645 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the completion of the sale, the director now owns 230,418 shares in the company, valued at $9,331,929. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Carpenter Technology Corporation (NYSE CRS) traded down 0.94% during mid-day trading on Friday, hitting $38.93. 412,052 shares of the stock were exchanged. The firm has a market cap of $1.82 billion, a P/E ratio of 39.32 and a beta of 2.09. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $45.33. The company has a 50 day moving average of $39.30 and a 200 day moving average of $37.86.
Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The business had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts anticipate that Carpenter Technology Corporation will post $2.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.83%. The ex-dividend date was Friday, August 18th. Carpenter Technology Corporation’s payout ratio is presently 72.00%.
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CRS has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Cowen and Company restated a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Longbow Research raised their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.50.
A number of institutional investors have recently modified their holdings of CRS. Huntington National Bank raised its stake in Carpenter Technology Corporation by 2,595.0% during the 2nd quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock worth $101,000 after buying an additional 2,595 shares during the period. Riverhead Capital Management LLC raised its stake in Carpenter Technology Corporation by 64.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after buying an additional 1,097 shares during the period. Elkfork Partners LLC raised its stake in Carpenter Technology Corporation by 3.3% during the 1st quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock worth $119,000 after buying an additional 102 shares during the period. Dubuque Bank & Trust Co. raised its stake in Carpenter Technology Corporation by 3.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after buying an additional 107 shares during the period. Finally, LS Investment Advisors LLC raised its stake in Carpenter Technology Corporation by 17.4% during the 2nd quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after buying an additional 556 shares during the period. 93.54% of the stock is currently owned by institutional investors and hedge funds.
About Carpenter Technology Corporation
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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