Insider Selling: Carpenter Technology Co. (CRS) COO Sells 11,448 Shares of Stock

Carpenter Technology Co. (NYSE:CRS) COO Joseph E. Haniford sold 11,448 shares of Carpenter Technology stock in a transaction that occurred on Friday, December 1st. The stock was 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 Securities & Exchange Commission, which can be accessed through this link.

Carpenter Technology Co. (NYSE CRS) traded down $1.04 during trading hours on Friday, reaching $50.99. 217,126 shares of the company’s stock traded hands, compared to its average volume of 287,848. The stock has a market cap of $2,390.00, a P/E ratio of 31.67 and a beta of 2.07. Carpenter Technology Co. has a 12 month low of $34.24 and a 12 month high of $53.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million for the quarter, compared to the consensus estimate of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. Carpenter Technology’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. research analysts anticipate that Carpenter Technology Co. will post 2.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date was Monday, October 23rd. Carpenter Technology’s dividend payout ratio is presently 44.72%.

CRS has been the topic of a number of analyst reports. Cowen reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology in a research report on Thursday, October 19th. KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Finally, 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Carpenter Technology presently has an average rating of “Buy” and an average target price of $50.80.

A number of large investors have recently added to or reduced their stakes in the business. Morningstar Investment Services LLC grew its position in Carpenter Technology by 0.4% during the 2nd quarter. Morningstar Investment Services LLC now owns 8,041 shares of the basic materials company’s stock worth $301,000 after purchasing an additional 32 shares during the last quarter. Granite Investment Partners LLC grew its position in Carpenter Technology by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 18,230 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 75 shares during the last quarter. Amalgamated Bank grew its position in Carpenter Technology by 1.2% during the 2nd quarter. Amalgamated Bank now owns 6,581 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 78 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Carpenter Technology by 1.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 92 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in Carpenter Technology by 1.4% during the 2nd quarter. Federated Investors Inc. PA now owns 13,259 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 187 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

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About Carpenter Technology

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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