Hennion & Walsh Asset Management Inc. Buys New Shares in Carpenter Technology Corporation $CRS

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 4th quarter, Holdings Channel reports. The firm purchased 1,725 shares of the basic materials company’s stock, valued at approximately $543,000.

A number of other large investors also recently bought and sold shares of CRS. Geneos Wealth Management Inc. acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $28,000. Armstrong Advisory Group Inc. increased its holdings in shares of Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after buying an additional 43 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Carpenter Technology in the 3rd quarter worth $41,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after buying an additional 60 shares during the period. Finally, Spire Wealth Management boosted its holdings in Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president owned 73,739 shares of the company’s stock, valued at $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director owned 225,381 shares in the company, valued at $85,897,206.72. This represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,300 shares of company stock valued at $8,664,044. 2.90% of the stock is owned by company insiders.

Carpenter Technology Trading Up 0.2%

NYSE:CRS opened at $392.38 on Friday. The business’s 50-day moving average is $375.93 and its two-hundred day moving average is $326.84. The firm has a market capitalization of $19.54 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $421.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The company had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. During the same quarter in the prior year, the business earned $1.66 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Research analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology’s dividend payout ratio is currently 9.29%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRS shares. BTIG Research boosted their price target on Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company began coverage on shares of Carpenter Technology in a research report on Wednesday. They set an “equal weight” rating and a $400.00 target price for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.11.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.