State of Wyoming Sells 2,257 Shares of Carpenter Technology Corporation $CRS

State of Wyoming decreased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 66.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,144 shares of the basic materials company’s stock after selling 2,257 shares during the quarter. State of Wyoming’s holdings in Carpenter Technology were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Market Inc. grew its position in shares of Carpenter Technology by 1.2% during the 4th quarter. Cibc World Market Inc. now owns 16,920 shares of the basic materials company’s stock worth $5,327,000 after buying an additional 198 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Carpenter Technology during the 4th quarter worth $206,000. Lido Advisors LLC purchased a new stake in shares of Carpenter Technology during the 4th quarter worth $239,000. 1492 Capital Management LLC lifted its stake in shares of Carpenter Technology by 1.4% during the 4th quarter. 1492 Capital Management LLC now owns 28,740 shares of the basic materials company’s stock worth $9,049,000 after purchasing an additional 404 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its stake in shares of Carpenter Technology by 51.9% during the 4th quarter. Bridges Investment Management Inc. now owns 1,267 shares of the basic materials company’s stock worth $399,000 after purchasing an additional 433 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Activity

In related news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the transaction, the director owned 750 shares in the company, valued at $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 is available at the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen upped their price objective on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 price objective on shares of Carpenter Technology in a report on Thursday, April 30th. BTIG Research raised their target price on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $458.63.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $500.18 on Tuesday. The company has a market capitalization of $24.85 billion, a P/E ratio of 52.65, a P/E/G ratio of 1.79 and a beta of 1.25. The business’s 50 day moving average is $433.74 and its two-hundred day moving average is $377.93. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $501.79.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. During the same period in the previous year, the business earned $1.88 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts expect that Carpenter Technology Corporation will post 10.55 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 8.42%.

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