Carpenter Technology Co. (NYSE:CRS) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 13.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,999 shares of the basic materials company’s stock after selling 610 shares during the quarter. Wrapmanager Inc.’s holdings in Carpenter Technology were worth $283,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System increased its holdings in Carpenter Technology by 1.5% in the third quarter. Arizona State Retirement System now owns 13,823 shares of the basic materials company’s stock valued at $929,000 after buying an additional 198 shares during the last quarter. Range Financial Group LLC raised its position in shares of Carpenter Technology by 2.5% during the 4th quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock worth $760,000 after acquiring an additional 259 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Carpenter Technology by 1.8% during the third quarter. Victory Capital Management Inc. now owns 21,202 shares of the basic materials company’s stock worth $1,425,000 after purchasing an additional 384 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in Carpenter Technology by 7.4% during the third quarter. Kestra Advisory Services LLC now owns 7,256 shares of the basic materials company’s stock worth $488,000 after purchasing an additional 503 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in Carpenter Technology by 1.1% in the fourth quarter. New York State Teachers Retirement System now owns 66,948 shares of the basic materials company’s stock valued at $4,740,000 after purchasing an additional 700 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Elizabeth A. Socci sold 802 shares of Carpenter Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the sale, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Carpenter Technology news, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the transaction, the director now directly owns 244,126 shares in the company, valued at $24,551,751.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Elizabeth A. Socci sold 802 shares of Carpenter Technology stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the sale, the vice president now owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen boosted their price objective on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Benchmark boosted their price target on shares of Carpenter Technology from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Northcoast Research reissued a “neutral” rating on shares of Carpenter Technology in a report on Monday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded up $2.56 during midday trading on Thursday, reaching $106.11. 536,588 shares of the company were exchanged, compared to its average volume of 544,130. The stock has a market cap of $5.26 billion, a P/E ratio of 40.35 and a beta of 1.47. Carpenter Technology Co. has a 1 year low of $44.40 and a 1 year high of $106.71. The stock has a fifty day simple moving average of $77.18 and a 200 day simple moving average of $70.16. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.94 by $0.25. The business had revenue of $684.90 million during the quarter, compared to analysts’ expectations of $707.73 million. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, research analysts forecast that Carpenter Technology Co. will post 3.97 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.20 per share. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s dividend payout ratio is currently 30.42%.

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.