Carpenter Technology Co. (NYSE:CRS - Get Free Report) VP Elizabeth A. Socci sold 802 shares of the company'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 owns 11,509 shares in the company, valued at $1,175,183.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Carpenter Technology Stock Performance
Shares of CRS opened at $102.62 on Wednesday. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 39.02 and a beta of 1.47. Carpenter Technology Co. has a 52-week low of $44.40 and a 52-week high of $104.85. The company has a quick ratio of 1.45, a current ratio of 3.20 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $75.58 and a 200 day moving average price of $69.67.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business had revenue of $684.90 million during the quarter, compared to analysts' expectations of $707.73 million. During the same quarter in the prior year, the business posted $0.38 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. Research analysts predict that Carpenter Technology Co. will post 3.97 EPS for the current fiscal year.
Carpenter Technology Increases Dividend
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The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from Carpenter Technology's previous quarterly dividend of $0.18. Carpenter Technology's payout ratio is 30.42%.
Institutional Trading of Carpenter Technology
Several institutional investors and hedge funds have recently made changes to their positions in the company. Cape Investment Advisory Inc. acquired a new position in Carpenter Technology during the fourth quarter worth approximately $29,000. Whittier Trust Co. purchased a new position in shares of Carpenter Technology during the first quarter worth approximately $30,000. Johnson Financial Group Inc. acquired a new position in shares of Carpenter Technology in the 4th quarter valued at $31,000. Westend Capital Management LLC purchased a new stake in Carpenter Technology in the 1st quarter valued at $36,000. Finally, Fifth Third Bancorp boosted its stake in Carpenter Technology by 322.5% during the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company's stock worth $82,000 after purchasing an additional 887 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Northcoast Research reissued a "neutral" rating on shares of Carpenter Technology in a report on Monday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.33.
Check Out Our Latest Report on Carpenter Technology
About Carpenter Technology
(
Get Free Report)
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.
Further Reading
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