Evergreen Capital Management LLC Has $806,000 Stock Position in Carpenter Technology Corporation $CRS

Evergreen Capital Management LLC decreased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 1.9% in the first quarter, Holdings Channel.com reports. The firm owned 4,447 shares of the basic materials company’s stock after selling 86 shares during the period. Evergreen Capital Management LLC’s holdings in Carpenter Technology were worth $806,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRS. IMA Advisory Services Inc. acquired a new stake in Carpenter Technology during the first quarter valued at $36,000. Bessemer Group Inc. raised its holdings in Carpenter Technology by 50.3% during the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company’s stock valued at $42,000 after buying an additional 77 shares in the last quarter. Ameriflex Group Inc. bought a new position in Carpenter Technology during the fourth quarter valued at about $44,000. Strategic Investment Solutions Inc. IL bought a new position in Carpenter Technology during the first quarter valued at about $49,000. Finally, Versant Capital Management Inc raised its holdings in Carpenter Technology by 27.3% during the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company’s stock valued at $65,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the sale, the chief executive officer directly owned 535,019 shares of the company’s stock, valued at $131,074,304.81. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anastasios John Hart sold 1,000 shares of Carpenter Technology stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $243.72, for a total value of $243,720.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,691 shares of company stock valued at $6,290,207 over the last three months. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Cowen restated a “buy” rating on shares of Carpenter Technology in a report on Thursday, June 12th. BTIG Research restated a “buy” rating on shares of Carpenter Technology in a report on Monday, August 4th. Finally, Benchmark raised their target price on Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, June 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average target price of $278.33.

Carpenter Technology Trading Down 0.7%

Carpenter Technology stock opened at $240.83 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.01 and a current ratio of 3.65. The business’s 50-day simple moving average is $263.51 and its 200-day simple moving average is $225.00. The firm has a market capitalization of $12.01 billion, a PE ratio of 32.46, a PEG ratio of 1.10 and a beta of 1.53. Carpenter Technology Corporation has a 52 week low of $129.57 and a 52 week high of $290.84.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. The business had revenue of $755.60 million for the quarter, compared to analyst estimates of $790.73 million. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. Equities research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Tuesday, August 26th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is 10.78%.

About Carpenter Technology

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.