Wealth Enhancement Advisory Services LLC increased its holdings in Carpenter Technology Inc. (NYSE:CRS – free report ) by 1.9% in the first quarter, according to its latest SEC filing. The fund bought an additional 215 shares during the quarter, giving it a holding of 11,557 shares of the basic materials company. Wealth Enhancement Advisory Services LLC’s holdings of Carpenter Technology stock were worth $825,000 as of the latest SEC filing.
Other hedge funds and institutional investors also recently modified their holdings in the company. West End Capital Management LLC acquired a new position in Carpenter Technology in the first quarter, valued at approximately $36,000. Ausar Capital Management LLC increased its holdings in Carpenter Technology by 10.8% in the first quarter. Ausar Capital Management LLC now owns 31,930 shares of the basic materials company’s stock, valued at $2.28 million, after purchasing an additional 3,110 shares during the period. Hennessy Advisors Inc. acquired a new position in Carpenter Technology shares in the fourth quarter, valued at approximately $27,407,000. The Goldman Sachs Group Inc. increased its holdings in Carpenter Technology by 82.3% in the fourth quarter. The Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after purchasing an additional 438,781 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Carpenter Technology by 0.7% in the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after purchasing an additional 188 shares during the period. Institutional investors own 92.03% of the company’s stock.
Carpenter Technology shares rose 1.9%
NYSE CRS opened trading at $106.75 on Tuesday. Carpenter Technology Inc.’s one year low is $53.62 and one year high is $112.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The company’s 50-day simple moving average is $105.11 and its 200-day simple moving average is $81.67. The company has a market capitalization of $5.3 billion, a P/E ratio of 40.59 and a beta of 1.44.
Carpenter Technology (NYSE:CRS – Get free report ) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.25. The company’s quarterly revenue was $684.90 million, beating analyst expectations of $707.73 million. Carpenter Technology had net margins of 4.83% and return on equity of 12.75%. Carpenter Technology’s quarterly revenue was down 0.8% year over year. Year-over-year earnings per share were $0.38. Research analysts expect Carpenter Technology to post earnings per share of $4.35 this year.
Carpenter Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd were paid a dividend of $0.20. The ex-dividend date for this dividend was Monday, April 22nd. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. This equates to an annualized dividend of $0.80, or a dividend yield of 0.75%. Carpenter Technology’s dividend payout ratio (DPR) is currently 30.42%.
Internal Activities at Carpenter Technology
In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $102.11, for a total value of $81,892.22. With this transaction the VP now owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The sale was disclosed in a SEC filing, which can be accessed through this hyperlink . In other Carpenter Technology news, SVP James D. Dee sold 23,518 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total value of $2,616,612.68. Following the completion of the sale, the Executive Vice President now owns 84,798 shares of the company’s stock, valued at approximately $9,434,625.48. The sale was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. Additionally, Vice President, Elizabeth A. Socci sold 802 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction value of $81,892.22. Following the completion of the transaction, the Vice President now directly owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,678 shares of the company’s stock, valued at $6,261,693. Company insiders own 3.40% of the company’s shares.
What Wall Street analysts are saying
Several stock analysts have recently issued reports on the stock. BTIG Research initiated coverage on shares of Carpenter Technology in a research report on Wednesday, June 26th. The firm issued a “buy” rating and a $120.00 price target for the company. Northcoast Research reaffirmed their “sell” rating and set a $89.00 price target on Carpenter Technology in a research report on Friday, June 14th. TD Cowen raised their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Benchmark reaffirmed a “buy” rating and set a $140.00 price target on Carpenter Technology in a research report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target for the company. One equities research analyst has rated the stock as a sell, one has rated it as a hold, and four have rated it as a buy. Based on data from MarketBeat.com, the company currently has a “moderate buy” consensus rating and a consensus target price of $123.60.
View our latest analysis for Carpenter Technology
Carpenter Technology Company Profile
(Free report)
Carpenter Technology Corporation manufactures, processes and distributes specialty metals throughout the United States, Europe, Asia Pacific, Mexico, Canada and internationally. The company operates through two segments: Specialty Alloys and High Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powdered metals, stainless steels, alloy steels and tool steels, as well as additives, metal powders and parts.
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