Carpenter Technology Corporation (NYSE:CRS - Get Free Report) Director Ramin Younessi sold 438 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the transaction, the director owned 1,953 shares in the company, valued at $963,121.95. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Carpenter Technology Stock Performance
Shares of NYSE CRS opened at $484.57 on Wednesday. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 46.06, a P/E/G ratio of 1.71 and a beta of 1.25. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. The stock's 50-day moving average is $563.64 and its 200 day moving average is $471.76.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Carpenter Technology's revenue for the quarter was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that Carpenter Technology Corporation will post 13.08 EPS for the current fiscal year.
Carpenter Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued 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, August 25th. Carpenter Technology's payout ratio is presently 7.60%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on CRS shares. Susquehanna reduced their target price on shares of Carpenter Technology from $680.00 to $600.00 and set a "positive" rating on the stock in a report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Wells Fargo & Company raised their price objective on Carpenter Technology from $425.00 to $540.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. BTIG Research lifted their price objective on Carpenter Technology from $450.00 to $620.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, TD Cowen boosted their target price on Carpenter Technology from $470.00 to $650.00 and gave the company a "buy" rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Carpenter Technology currently has a consensus rating of "Buy" and a consensus price target of $577.25.
Get Our Latest Stock Analysis on CRS
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Carpenter Technology during the 2nd quarter valued at $7,699,000. California State Teachers Retirement System grew its holdings in Carpenter Technology by 58,677.5% in the 2nd quarter. California State Teachers Retirement System now owns 33,892,274 shares of the basic materials company's stock worth $20,906,110,000 after acquiring an additional 33,834,612 shares during the last quarter. Wedmont Private Capital bought a new stake in Carpenter Technology in the 2nd quarter worth $297,000. HB Wealth Management LLC increased its position in shares of Carpenter Technology by 67.9% in the second quarter. HB Wealth Management LLC now owns 3,278 shares of the basic materials company's stock valued at $2,022,000 after acquiring an additional 1,326 shares during the period. Finally, AlphaGrep UK Ltd purchased a new position in shares of Carpenter Technology in the second quarter valued at about $356,000. 92.03% of the stock is owned by hedge funds and other institutional investors.
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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.
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