2,852 Shares in Carpenter Technology Co. (NYSE:CRS) Acquired by Inceptionr LLC

Inceptionr LLC purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,852 shares of the basic materials company’s stock, valued at approximately $202,000.

Several other large investors have also made changes to their positions in the company. Arizona State Retirement System boosted its position in shares of Carpenter Technology by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 13,823 shares of the basic materials company’s stock worth $929,000 after acquiring an additional 198 shares in the last quarter. Range Financial Group LLC boosted its position in Carpenter Technology by 2.5% in the fourth quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock valued at $760,000 after buying an additional 259 shares in the last quarter. Victory Capital Management Inc. boosted its position in Carpenter Technology by 1.8% in the third quarter. Victory Capital Management Inc. now owns 21,202 shares of the basic materials company’s stock valued at $1,425,000 after buying an additional 384 shares in the last quarter. Kestra Advisory Services LLC boosted its position in Carpenter Technology by 7.4% in the third quarter. Kestra Advisory Services LLC now owns 7,256 shares of the basic materials company’s stock valued at $488,000 after buying an additional 503 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position 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 buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $109.83 on Friday. Carpenter Technology Co. has a twelve month low of $44.40 and a twelve month high of $110.89. The firm has a fifty day simple moving average of $82.12 and a 200 day simple moving average of $72.04. The company has a market capitalization of $5.45 billion, a PE ratio of 41.76 and a beta of 1.47. The company has a quick ratio of 1.45, a current ratio of 3.20 and a debt-to-equity ratio of 0.46.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business had revenue of $684.90 million during the quarter, compared to the consensus estimate of $707.73 million. During the same quarter last year, the firm earned $0.38 earnings per share. Carpenter Technology’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Carpenter Technology Co. will post 4.18 EPS for the current year.

Carpenter Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Monday, April 22nd. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is currently 30.42%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. TD Cowen raised their target price on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Benchmark lifted their price target on shares of Carpenter Technology from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Carpenter Technology in a report on Monday, May 6th. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $109.67.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the sale, the director now directly owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Carpenter Technology news, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the sale, the director now directly owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Marshall D. Akins sold 4,358 shares of Carpenter Technology stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total transaction of $445,518.34. Following the completion of the sale, the vice president now directly owns 23,014 shares of the company’s stock, valued at $2,352,721.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,160 shares of company stock valued at $3,645,081. Corporate insiders own 3.40% of the company’s stock.

About Carpenter Technology

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.