Sequoia Financial Advisors LLC Buys 212 Shares of Carpenter Technology Corporation $CRS

Sequoia Financial Advisors LLC lifted its position in Carpenter Technology Corporation (NYSE:CRS) by 12.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,975 shares of the basic materials company’s stock after purchasing an additional 212 shares during the period. Sequoia Financial Advisors LLC’s holdings in Carpenter Technology were worth $546,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Carpenter Technology during the 1st quarter worth $31,000. IMA Advisory Services Inc. bought a new stake in shares of Carpenter Technology in the first quarter valued at about $36,000. Bessemer Group Inc. lifted its stake in Carpenter Technology by 50.3% in the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 77 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Carpenter Technology during the 1st quarter worth about $49,000. Finally, Banque Cantonale Vaudoise purchased a new position in Carpenter Technology during the 1st quarter valued at about $71,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Trading Down 0.0%

NYSE CRS opened at $238.04 on Monday. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $290.84. The company has a 50 day moving average price of $244.05 and a 200 day moving average price of $238.08. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37. The firm has a market cap of $11.87 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.08 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $755.60 million during the quarter, compared to the consensus estimate of $790.73 million. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. Carpenter Technology’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. As a group, sell-side analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is 10.78%.

Insiders Place Their Bets

In related news, Director I Martin Inglis sold 5,691 shares of Carpenter Technology stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.54, for a total value of $1,391,677.14. Following the completion of the sale, the director directly owned 6,732 shares in the company, valued at $1,646,243.28. This trade represents a 45.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony R. Thene sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the transaction, the chief executive officer owned 535,019 shares in the company, valued at $131,074,304.81. The trade was a 3.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,124 shares of company stock valued at $6,890,250. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRS. BTIG Research reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Monday, August 4th. Weiss Ratings restated a “buy (b+)” rating on shares of Carpenter Technology in a report on Wednesday, October 8th. Finally, Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $278.33.

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.