XML Financial LLC Makes New $425,000 Investment in Carpenter Technology Co. (NYSE:CRS)

XML Financial LLC bought a new position in shares of Carpenter Technology Co. (NYSE:CRSFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the basic materials company’s stock, valued at approximately $425,000.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Carpenter Technology by 91.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock worth $1,799,000 after purchasing an additional 12,129 shares in the last quarter. Harvest Investment Services LLC purchased a new stake in Carpenter Technology during the fourth quarter worth $826,000. Consolidated Portfolio Review Corp purchased a new stake in Carpenter Technology during the fourth quarter worth $1,297,000. Phocas Financial Corp. purchased a new stake in Carpenter Technology during the fourth quarter worth $3,396,000. Finally, Penserra Capital Management LLC boosted its position in Carpenter Technology by 6,477.1% during the third quarter. Penserra Capital Management LLC now owns 37,884 shares of the basic materials company’s stock worth $2,546,000 after purchasing an additional 37,308 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carpenter Technology

In related news, Director Steven E. Karol sold 31,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Steven E. Karol sold 31,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the senior vice president now owns 84,798 shares in the company, valued at approximately $9,434,625.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,678 shares of company stock valued at $6,261,693. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRS. Northcoast Research reissued a “neutral” rating on shares of Carpenter Technology in a report on Monday, May 6th. Benchmark reissued a “buy” rating and issued a $140.00 price target on shares of Carpenter Technology in a report on Tuesday, May 28th. Finally, TD Cowen boosted their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $112.67.

View Our Latest Report on CRS

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $103.99 on Tuesday. Carpenter Technology Co. has a 1-year low of $50.18 and a 1-year high of $112.75. The business has a 50-day moving average of $94.48 and a 200-day moving average of $76.54. 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 has a market capitalization of $5.16 billion, a price-to-earnings ratio of 39.54 and a beta of 1.47.

Carpenter Technology (NYSE:CRSGet Free Report) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company had revenue of $684.90 million during the quarter, compared to the consensus estimate of $707.73 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. On average, equities analysts anticipate that Carpenter Technology Co. will post 4.31 EPS for the current fiscal year.

Carpenter Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio is currently 30.42%.

About Carpenter Technology

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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