Key Points
- Elizabeth Socci, a vice president at Carpenter Technology, sold 3,900 shares on November 26 at an average price of $321.25 for total proceeds of $1,252,875, reducing her stake by 28.9% to 9,594 shares, per an SEC filing.
- Carpenter beat Q earnings estimates with $2.43 EPS (vs. $2.13 expected) while revenue of $733.7M slightly missed expectations, and the company announced a quarterly dividend of $0.20 ($0.80 annualized, 0.3% yield).
- The stock trades around $316.56 with a 1‑year range of $138.61–$342.11, a market cap of $15.77B and a P/E of 38.7; analysts have a consensus "Moderate Buy" rating and an average price target of $371.14.
Carpenter Technology Corporation (NYSE:CRS - Get Free Report) VP Elizabeth Socci sold 3,900 shares of Carpenter Technology stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the transaction, the vice president owned 9,594 shares in the company, valued at approximately $3,082,072.50. This represents a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Carpenter Technology Stock Down 0.6%
Shares of Carpenter Technology stock opened at $316.56 on Tuesday. Carpenter Technology Corporation has a 1 year low of $138.61 and a 1 year high of $342.11. The business has a 50-day moving average of $285.92 and a two-hundred day moving average of $265.12. The company has a market capitalization of $15.77 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The business had revenue of $733.70 million for the quarter, compared to analysts' expectations of $741.18 million. During the same quarter in the previous year, the business posted $1.73 EPS. Carpenter Technology's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.
Carpenter Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Carpenter Technology's dividend payout ratio is currently 9.78%.
Analyst Ratings Changes
CRS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an "overweight" rating in a report on Wednesday, October 29th. Zacks Research downgraded Carpenter Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on Carpenter Technology and gave the stock a "buy" rating in a report on Friday, October 24th. Finally, KeyCorp upgraded Carpenter Technology from a "sector weight" rating to an "overweight" rating and set a $380.00 target price on the stock in a research note on Thursday, November 13th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $371.14.
Check Out Our Latest Analysis on CRS
Hedge Funds Weigh In On Carpenter Technology
Hedge funds have recently modified their holdings of the stock. Clearstead Advisors LLC raised its holdings in Carpenter Technology by 17.9% during the third quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company's stock worth $58,000 after acquiring an additional 36 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its position in shares of Carpenter Technology by 3.9% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 974 shares of the basic materials company's stock worth $239,000 after purchasing an additional 37 shares during the last quarter. Radnor Capital Management LLC increased its position in shares of Carpenter Technology by 3.3% during the 2nd quarter. Radnor Capital Management LLC now owns 1,240 shares of the basic materials company's stock worth $343,000 after purchasing an additional 40 shares during the last quarter. ANB Bank raised its stake in shares of Carpenter Technology by 3.3% during the 2nd quarter. ANB Bank now owns 1,304 shares of the basic materials company's stock worth $360,000 after purchasing an additional 42 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Carpenter Technology by 3.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,462 shares of the basic materials company's stock valued at $404,000 after buying an additional 43 shares during the last quarter. Institutional investors own 92.03% of the company's stock.
Carpenter Technology Company Profile
(
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.
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