Eagle Asset Management Inc. lessened its stake in Carpenter Technology Corporation (NYSE:CRS) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,096 shares of the basic materials company’s stock after selling 197 shares during the quarter. Eagle Asset Management Inc. owned 0.38% of Carpenter Technology Corporation worth $6,740,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CRS. Huntington National Bank increased its holdings in shares of Carpenter Technology Corporation by 2,595.0% in the 2nd quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 2,595 shares in the last quarter. Elkfork Partners LLC increased its holdings in 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 valued at $119,000 after acquiring an additional 102 shares in the last quarter. Dubuque Bank & Trust Co. increased its holdings in 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 valued at $138,000 after acquiring an additional 107 shares in the last quarter. LS Investment Advisors LLC increased its holdings in Carpenter Technology Corporation by 17.4% during the 2nd quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 556 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in 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 valued at $196,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.
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CRS has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Longbow Research raised their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company restated a “hold” rating and set a $37.00 target price on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.50.
In other Carpenter Technology Corporation news, Director I Martin Inglis sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $318,160.00. Following the sale, the director now owns 11,200 shares in the company, valued at approximately $445,424. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven E. Karol sold 3,877 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $40.18, for a total value of $155,777.86. Following the sale, the director now owns 230,418 shares in the company, valued at approximately $9,258,195.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,522 shares of company stock worth $1,065,580. Corporate insiders own 3.60% of the company’s stock.
Shares of Carpenter Technology Corporation (NYSE CRS) opened at 44.74 on Friday. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.34. The stock has a market capitalization of $2.09 billion, a P/E ratio of 45.19 and a beta of 2.09. The stock’s 50 day moving average is $39.68 and its 200-day moving average is $37.84.
Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. On average, equities research analysts expect that Carpenter Technology Corporation will post $2.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.18 per share. The ex-dividend date was Friday, August 18th. This represents a $0.72 annualized dividend and a yield of 1.61%. Carpenter Technology Corporation’s payout ratio is presently 72.00%.
About Carpenter Technology Corporation
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.
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