Wealthstar Advisors LLC Sells 2,212 Shares of Carpenter Technology Corporation $CRS

Wealthstar Advisors LLC lowered its position in Carpenter Technology Corporation (NYSE:CRS) by 31.3% during the first quarter, Holdings Channel reports. The institutional investor owned 4,860 shares of the basic materials company’s stock after selling 2,212 shares during the quarter. Carpenter Technology comprises approximately 0.9% of Wealthstar Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Wealthstar Advisors LLC’s holdings in Carpenter Technology were worth $1,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Advisory Services Inc. lifted its position in Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 32 shares during the last quarter. Abel Hall LLC grew its holdings in Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC grew its holdings in Carpenter Technology by 2.4% in the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock worth $444,000 after purchasing an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Carpenter Technology by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after purchasing an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of several analyst reports. Susquehanna increased their price objective on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Wells Fargo & Company boosted their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. KeyCorp upped their target price on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research report on Tuesday. BTIG Research increased their price target on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $481.75.

Insiders Place Their Bets

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at approximately $317,895. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 0.0%

Shares of Carpenter Technology stock opened at $597.44 on Friday. The firm’s 50 day simple moving average is $495.57 and its two-hundred day simple moving average is $412.79. The firm has a market capitalization of $29.69 billion, a price-to-earnings ratio of 62.89, a PEG ratio of 1.75 and a beta of 1.22. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $624.50. 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 (NYSE:CRS) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The business had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business’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 firm posted $1.88 earnings per share. Analysts predict that Carpenter Technology Corporation will post 10.56 EPS for the current year.

Carpenter Technology Dividend Announcement

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