Wealth Enhancement Advisory Services LLC grew its stake in shares of Carpenter Technology Co. (NYSE:CRS – Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,557 shares of the basic materials company’s stock after buying an additional 215 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Carpenter Technology were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westend Capital Management LLC acquired a new position in Carpenter Technology in the 1st quarter worth about $36,000. Orser Capital Management LLC increased its stake in shares of Carpenter Technology by 10.8% in the first quarter. Orser Capital Management LLC now owns 31,930 shares of the basic materials company’s stock valued at $2,280,000 after buying an additional 3,110 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Carpenter Technology in the fourth quarter valued at approximately $27,407,000. Goldman Sachs Group Inc. raised its holdings in Carpenter Technology by 82.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after buying an additional 438,781 shares during the last quarter. Finally, American International Group Inc. boosted its position in Carpenter Technology by 0.7% during the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock worth $1,887,000 after buying an additional 188 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 1.9 %

NYSE CRS opened at $106.75 on Tuesday. Carpenter Technology Co. has a one year low of $53.62 and a one year high of $112.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The business has a 50 day simple moving average of $105.11 and a 200 day simple moving average of $81.67. The stock has a market capitalization of $5.30 billion, a P/E ratio of 40.59 and a beta of 1.44.

Carpenter Technology (NYSE:CRS – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.25. The company had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. Carpenter Technology’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. Research analysts expect that Carpenter Technology Co. will post 4.35 earnings per share for the current year.

Carpenter Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.75%. Carpenter Technology’s dividend payout ratio (DPR) is currently 30.42%.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the transaction, the vice president now owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Carpenter Technology news, SVP James D. Dee sold 23,518 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the completion of the sale, the senior vice president now owns 84,798 shares in the company, valued at approximately $9,434,625.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the transaction, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The disclosure for this sale can be found here. Insiders sold 59,678 shares of company stock valued at $6,261,693 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BTIG Research began coverage on shares of Carpenter Technology in a research note on Wednesday, June 26th. They set a “buy” rating and a $120.00 price target for the company. Northcoast Research reaffirmed a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research report on Friday, June 14th. TD Cowen upped their price target on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Benchmark reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Carpenter Technology in a research note on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

View Our Latest Analysis on Carpenter Technology

Carpenter Technology Company Profile

(Free Report)

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.

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