Insider Selling: Carpenter Technology Co. (NYSE:CRS) VP Sells $81,892.22 in Stock

Carpenter Technology Co. (NYSE:CRS) VP Elizabeth A. Socci sold 802 shares of Carpenter Technology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total value of $81,892.22. Following the completion of the sale, the vice president now owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Carpenter Technology Trading Up 2.5 %

Carpenter Technology stock opened at $106.11 on Friday. 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 Co. has a 12 month low of $44.40 and a 12 month high of $106.71. The stock’s 50 day simple moving average is $77.18 and its two-hundred day simple moving average is $70.16. The firm has a market cap of $5.26 billion, a PE ratio of 40.35 and a beta of 1.47.

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 the consensus estimate of $0.94 by $0.25. The business had revenue of $684.90 million during the quarter, compared to the consensus estimate of $707.73 million. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Analysts anticipate that Carpenter Technology Co. will post 3.97 earnings per share for the current year.

Carpenter Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be paid a $0.20 dividend. This is an increase 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 of this dividend is Monday, April 22nd. Carpenter Technology’s dividend payout ratio is currently 30.42%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL acquired a new position in Carpenter Technology in the 1st quarter valued at $307,000. First Eagle Investment Management LLC raised its stake in Carpenter Technology by 13.2% in the 1st quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after purchasing an additional 17,400 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Carpenter Technology by 22.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,792 shares of the basic materials company’s stock valued at $1,199,000 after purchasing an additional 3,030 shares during the last quarter. ProShare Advisors LLC raised its stake in Carpenter Technology by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,878 shares of the basic materials company’s stock valued at $705,000 after purchasing an additional 679 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Carpenter Technology in the 1st quarter valued at $4,199,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Northcoast Research reiterated a “neutral” rating on shares of Carpenter Technology in a report on Monday. TD Cowen boosted their target price on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Benchmark boosted their price target on Carpenter Technology from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.67.

Carpenter Technology Company 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.