Moody National Bank Trust Division Purchases 1,950 Shares of Carpenter Technology Corporation $CRS

Moody National Bank Trust Division increased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,795 shares of the basic materials company’s stock after purchasing an additional 1,950 shares during the quarter. Moody National Bank Trust Division’s holdings in Carpenter Technology were worth $4,658,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the second quarter worth $28,000. Armstrong Advisory Group Inc. increased its position in Carpenter Technology by 57.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Carpenter Technology in the third quarter valued at approximately $41,000. MassMutual Private Wealth & Trust FSB raised its position in Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Carpenter Technology in the 2nd quarter valued at $43,000. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRS. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Susquehanna initiated coverage on shares of Carpenter Technology in a research report on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price target on the stock. BTIG Research upped their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $385.50.

Carpenter Technology Trading Up 6.7%

Shares of NYSE:CRS opened at $398.31 on Wednesday. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 46.26, a PEG ratio of 1.46 and a beta of 1.22. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $412.31. The company’s fifty day simple moving average is $366.82 and its 200 day simple moving average is $319.16. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.13. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. As a group, research analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology’s dividend payout ratio is presently 9.29%.

Insider Activity

In related news, SVP James D. Dee sold 15,800 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. The trade was a 17.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $381.12, for a total value of $1,333,920.00. Following the transaction, the director directly owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,300 shares of company stock worth $8,664,044 over the last three months. Insiders own 2.90% of the company’s stock.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.