Pathway Financial Advisers LLC Makes New Investment in Carpenter Technology Corporation $CRS

Pathway Financial Advisers LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,124 shares of the basic materials company’s stock, valued at approximately $1,626,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CRS. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology in the second quarter worth approximately $28,000. SJS Investment Consulting Inc. increased its position in Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 36 shares during the last quarter. Armstrong Advisory Group Inc. increased its position in Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Spire Wealth Management raised its stake in Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 84 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Carpenter Technology during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. KeyCorp lifted their target price on Carpenter Technology from $453.00 to $459.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Susquehanna boosted their price target on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, TD Cowen raised their price objective on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $458.62.

Carpenter Technology Stock Performance

NYSE:CRS opened at $605.15 on Tuesday. The firm has a 50-day moving average of $482.35 and a two-hundred day moving average of $405.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The stock has a market cap of $30.07 billion, a P/E ratio of 63.70, a PEG ratio of 2.04 and a beta of 1.25. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $608.52.

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

Carpenter Technology Dividend Announcement

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

Insider Buying and Selling

In other news, 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 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 approximately $8,096,307.84. This represents a 39.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the firm’s 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 sale, the director directly owned 750 shares of the company’s stock, valued at $317,895. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.90% of the company’s stock.

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