1,914 Shares in Carpenter Technology Corporation $CRS Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,914 shares of the basic materials company’s stock, valued at approximately $604,000.

A number of other large investors have also added to or reduced their stakes in CRS. Geneos Wealth Management Inc. purchased a new stake in Carpenter Technology during the second quarter worth about $28,000. Armstrong Advisory Group Inc. increased its holdings in Carpenter Technology by 57.3% during the fourth 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. Spire Wealth Management increased its holdings in Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after buying an additional 84 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Carpenter Technology during the second quarter worth about $43,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Carpenter Technology in the second quarter worth about $45,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

CRS opened at $486.86 on Thursday. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 51.25, a PEG ratio of 1.80 and a beta of 1.25. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $428.11 and a 200-day moving average price of $374.48. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $495.58.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same period last year, the business earned $1.88 earnings per share. Carpenter Technology’s revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Carpenter Technology Corporation will post 10.54 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, April 28th. Carpenter Technology’s dividend payout ratio (DPR) is 8.42%.

Insider Buying and Selling

In other news, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the transaction, the director directly owned 750 shares in the company, valued at approximately $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. Wells Fargo & Company lifted their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. KeyCorp lifted their target price on shares of Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, BTIG Research lifted their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $441.00.

Carpenter Technology Company Profile

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.