VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 13,982 shares of the basic materials company’s stock, valued at approximately $3,864,000.
Several other institutional investors have also added to or reduced their stakes in CRS. GAMMA Investing LLC grew its holdings in Carpenter Technology by 7.7% during the 1st quarter. GAMMA Investing LLC now owns 2,645 shares of the basic materials company’s stock valued at $479,000 after buying an additional 188 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Carpenter Technology by 27.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,953 shares of the basic materials company’s stock worth $2,890,000 after purchasing an additional 3,467 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Carpenter Technology by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,283 shares of the basic materials company’s stock worth $3,856,000 after purchasing an additional 1,128 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Carpenter Technology by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 5,850 shares of the basic materials company’s stock worth $1,059,000 after purchasing an additional 165 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Carpenter Technology by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 60,794 shares of the basic materials company’s stock worth $11,015,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Insider Activity
In other news, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the transaction, the chief executive officer directly owned 535,019 shares in the company, valued at approximately $131,074,304.81. This trade represents a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares in the company, valued at $44,240,400. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,124 shares of company stock worth $6,890,250. 2.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Carpenter Technology Price Performance
Shares of CRS stock opened at $241.84 on Tuesday. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $290.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. The firm has a market capitalization of $12.06 billion, a P/E ratio of 32.59, a P/E/G ratio of 1.08 and a beta of 1.46. The stock has a 50 day moving average price of $243.92 and a 200 day moving average price of $238.71.
Carpenter Technology (NYSE:CRS – Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. The firm had revenue of $755.60 million during the quarter, compared to analyst estimates of $790.73 million. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.Carpenter Technology’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is currently 10.78%.
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.
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