IFP Advisors Inc Has $35,000 Position in Carpenter Technology Corporation $CRS

IFP Advisors Inc lessened its holdings in Carpenter Technology Corporation (NYSE:CRS) by 92.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111 shares of the basic materials company’s stock after selling 1,272 shares during the quarter. IFP Advisors Inc’s holdings in Carpenter Technology were worth $35,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CRS. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at $28,000. Armstrong Advisory Group Inc. boosted its holdings in shares of 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 purchasing an additional 43 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 84 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at $43,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the sale, the director directly owned 750 shares of the company’s stock, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Up 0.0%

Shares of CRS opened at $487.01 on Wednesday. The company has a market capitalization of $24.20 billion, a PE ratio of 51.26, a PEG ratio of 1.80 and a beta of 1.25. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $495.58. The stock’s 50-day moving average price is $423.34 and its two-hundred day moving average price is $372.24. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. On average, analysts anticipate that Carpenter Technology Corporation will post 10.54 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, April 28th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, April 28th. Carpenter Technology’s payout ratio is presently 8.42%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRS. BTIG Research raised their target price on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Susquehanna raised their price objective on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Finally, KeyCorp raised their price objective on Carpenter Technology from $453.00 to $459.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $441.00.

Carpenter Technology Company Profile

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.