Janney Montgomery Scott LLC Purchases 1,423 Shares of Carpenter Technology Corporation $CRS

Janney Montgomery Scott LLC increased its position in Carpenter Technology Corporation (NYSE:CRS) by 5.6% in the first quarter, Holdings Channel.com reports. The firm owned 26,877 shares of the basic materials company’s stock after acquiring an additional 1,423 shares during the period. Janney Montgomery Scott LLC’s holdings in Carpenter Technology were worth $10,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology during the 2nd quarter valued at about $28,000. Armstrong Advisory Group Inc. grew its position in shares of Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after buying an additional 43 shares during the period. Spire Wealth Management grew its position in shares of Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after buying an additional 84 shares during the period. Headlands Technologies LLC bought a new stake in shares of Carpenter Technology during the second quarter worth approximately $43,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Carpenter Technology during the second quarter worth approximately $45,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent research reports. Susquehanna raised their price objective on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TD Cowen upped their price objective on Carpenter Technology from $450.00 to $470.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $481.75.

Insider Buying and Selling at Carpenter Technology

In related news, Director Anastasios John Hart sold 750 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Down 2.1%

Shares of NYSE CRS opened at $597.44 on Friday. The stock has a market cap of $29.69 billion, a P/E ratio of 62.89, a P/E/G ratio of 1.79 and a beta of 1.22. The firm has a 50 day moving average price of $492.09 and a 200 day moving average price of $411.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $624.50.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. Analysts expect that Carpenter Technology Corporation will post 10.56 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. Carpenter Technology’s dividend payout ratio is currently 8.42%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.