2,117 Shares in Carpenter Technology Corporation $CRS Bought by PFG Advisors

PFG Advisors bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,117 shares of the basic materials company’s stock, valued at approximately $585,000.

Several other hedge funds have also bought and sold shares of CRS. Rise Advisors LLC bought a new position in shares of Carpenter Technology during the 1st quarter valued at about $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Carpenter Technology in the first quarter worth about $36,000. Strategic Investment Solutions Inc. IL bought a new position in Carpenter Technology during the first quarter valued at approximately $49,000. Banque Cantonale Vaudoise purchased a new position in Carpenter Technology during the 1st quarter valued at approximately $71,000. Finally, Penserra Capital Management LLC purchased a new position in Carpenter Technology during the 2nd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Transactions at Carpenter Technology

In other news, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director directly owned 180,000 shares in the company, valued at approximately $44,240,400. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director I Martin Inglis sold 5,691 shares of Carpenter Technology stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the sale, the director owned 6,732 shares of the company’s stock, valued at $1,646,243.28. The trade was a 45.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 28,124 shares of company stock worth $6,890,250. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, October 24th. Jones Trading started coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price objective for the company. Zacks Research downgraded shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, TD Cowen increased their price target on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.67.

Carpenter Technology Trading Down 1.4%

Shares of CRS opened at $322.88 on Wednesday. The company’s fifty day simple moving average is $264.38 and its 200-day simple moving average is $254.38. The company has a market cap of $16.09 billion, a P/E ratio of 39.47, a P/E/G ratio of 1.41 and a beta of 1.47. The company has a current ratio of 4.44, a quick ratio of 2.37 and a debt-to-equity ratio of 0.36. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $338.08.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.30. The company had revenue of $733.70 million for the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 EPS. As a group, analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio (DPR) is 9.78%.

Carpenter Technology 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.