Carpenter Technology Corporation (NYSE:CRS) Director Kathryn C. Turner sold 8,000 shares of Carpenter Technology Corporation stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $42.60, for a total transaction of $340,800.00. Following the completion of the transaction, the director now owns 13,328 shares in the company, valued at $567,772.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Carpenter Technology Corporation (NYSE:CRS) opened at 41.96 on Monday. The stock’s market cap is $1.96 billion. The company’s 50-day moving average is $39.21 and its 200-day moving average is $37.84. Carpenter Technology Corporation has a 12-month low of $27.08 and a 12-month high of $45.34.
Carpenter Technology Corporation (NYSE:CRS) last announced its earnings results on Thursday, February 2nd. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Carpenter Technology Corporation had a negative net margin of 0.47% and a positive return on equity of 2.98%. The company earned $427.40 million during the quarter, compared to analysts’ expectations of $412.40 million. During the same period last year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts expect that Carpenter Technology Corporation will post $0.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Shareholders of record on Tuesday, February 7th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, February 3rd. Carpenter Technology Corporation’s payout ratio is -423.53%.
Several brokerages have recently weighed in on CRS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $39.00) on shares of Carpenter Technology Corporation in a report on Thursday, January 12th. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, January 17th. Finally, Deutsche Bank AG began coverage on shares of Carpenter Technology Corporation in a report on Monday, December 19th. They issued a “hold” rating and a $35.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.60.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Valley National Advisers Inc. boosted its stake in Carpenter Technology Corporation by 42.2% in the third quarter. Valley National Advisers Inc. now owns 2,610 shares of the company’s stock valued at $108,000 after buying an additional 775 shares in the last quarter. Elkfork Partners LLC bought a new stake in Carpenter Technology Corporation during the fourth quarter valued at approximately $112,000. LS Investment Advisors LLC boosted its stake in Carpenter Technology Corporation by 7.7% in the third quarter. LS Investment Advisors LLC now owns 2,991 shares of the company’s stock valued at $123,000 after buying an additional 214 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Carpenter Technology Corporation by 215.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,759 shares of the company’s stock valued at $124,000 after buying an additional 2,569 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Carpenter Technology Corporation by 15.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,829 shares of the company’s stock valued at $159,000 after buying an additional 632 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.
About Carpenter Technology Corporation
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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