Carpenter Technology Co. (CRS) COO Sells $561,982.32 in Stock

Carpenter Technology Co. (NYSE:CRS) COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Carpenter Technology Co. (NYSE CRS) traded down $0.16 on Tuesday, reaching $50.31. 386,788 shares of the company were exchanged, compared to its average volume of 349,827. Carpenter Technology Co. has a 52-week low of $34.24 and a 52-week high of $51.88. The stock has a market capitalization of $2,311.34, a P/E ratio of 29.74 and a beta of 2.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million during the quarter, compared to the consensus estimate of $448.46 million. Carpenter Technology had a net margin of 4.88% and a return on equity of 7.66%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. equities analysts predict that Carpenter Technology Co. will post 2.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 23rd. Carpenter Technology’s dividend payout ratio is 44.44%.

A number of research analysts recently commented on CRS shares. Cowen boosted their price objective on shares of Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, October 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.17.

Hedge funds have recently bought and sold shares of the business. Riverhead Capital Management LLC grew its position in Carpenter Technology by 64.5% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,097 shares in the last quarter. LS Investment Advisors LLC grew its position in Carpenter Technology by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 556 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Carpenter Technology by 90.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 1,529 shares in the last quarter. Turner Investments LLC bought a new stake in Carpenter Technology in the third quarter worth approximately $192,000. Finally, Public Employees Retirement System of Ohio grew its position in Carpenter Technology by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 92 shares in the last quarter. 95.97% of the stock is owned by institutional investors.

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Carpenter Technology Company Profile

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

Insider Buying and Selling by Quarter for Carpenter Technology (NYSE:CRS)

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