Keybank National Association OH Sells 5,700 Shares of Carpenter Technology Corporation (NYSE:CRS)

Keybank National Association OH lowered its holdings in Carpenter Technology Corporation (NYSE:CRS) by 19.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,200 shares of the basic materials company’s stock after selling 5,700 shares during the quarter. Keybank National Association OH’s holdings in Carpenter Technology Corporation were worth $868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Morningstar Investment Services LLC grew its holdings in Carpenter Technology Corporation by 0.4% in the 2nd quarter. Morningstar Investment Services LLC now owns 8,041 shares of the basic materials company’s stock valued at $301,000 after buying an additional 32 shares during the last quarter. Granite Investment Partners LLC grew its holdings in shares of Carpenter Technology Corporation 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 in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Carpenter Technology Corporation 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 in the last quarter. Elkfork Partners LLC grew its holdings in shares of Carpenter Technology Corporation by 3.3% during the 1st quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 102 shares in the last quarter. Finally, Dubuque Bank & Trust Co. grew its holdings in shares of Carpenter Technology Corporation by 3.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 107 shares in the last quarter. 92.81% of the stock is currently owned by hedge funds and other institutional investors.

CRS has been the topic of several recent research reports. Zacks Investment Research lowered Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Cowen and Company reissued a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Longbow Research lifted their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $43.50.

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Carpenter Technology Corporation (CRS) opened at 44.74 on Friday. The firm has a 50-day moving average price of $39.68 and a 200 day moving average price of $37.84. The company has a market cap of $2.09 billion, a P/E ratio of 45.19 and a beta of 2.09. Carpenter Technology Corporation has a 12 month low of $30.37 and a 12 month high of $45.34.

Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The business had revenue of $507.70 million during the quarter, compared to analyst estimates of $502.40 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts expect that Carpenter Technology Corporation will post $2.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, August 18th. Carpenter Technology Corporation’s dividend payout ratio (DPR) is 72.00%.

In other news, Director Steven E. Karol sold 3,877 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $40.18, for a total transaction of $155,777.86. Following the completion of the transaction, the director now directly owns 230,418 shares of the company’s stock, valued at $9,258,195.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $40.25, for a total transaction of $161,000.00. Following the transaction, the director now directly owns 4,200 shares of the company’s stock, valued at $169,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,522 shares of company stock valued at $1,065,580. Insiders own 3.60% of the company’s stock.

Carpenter Technology Corporation Company Profile

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.

Institutional Ownership by Quarter for Carpenter Technology Corporation (NYSE:CRS)

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