Capstone Asset Management Co. bought a new position in Carpenter Technology Corp. (NYSE:CRS) during the third quarter, Holdings Channel reports. The institutional investor bought 5,019 shares of the company’s stock, valued at approximately $207,000.
A number of other hedge funds have also bought and sold shares of the company. Invictus RG increased its stake in Carpenter Technology Corp. by 2,402.9% in the first quarter. Invictus RG now owns 11,263 shares of the company’s stock worth $386,000 after buying an additional 10,813 shares during the period. Wellington Management Group LLP acquired a new stake in Carpenter Technology Corp. during the first quarter worth about $15,171,000. Meeder Asset Management Inc. acquired a new stake in Carpenter Technology Corp. during the first quarter worth about $639,000. State Street Corp increased its stake in Carpenter Technology Corp. by 15.9% in the first quarter. State Street Corp now owns 2,152,286 shares of the company’s stock worth $73,673,000 after buying an additional 294,803 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Carpenter Technology Corp. by 537.6% in the first quarter. Canada Pension Plan Investment Board now owns 298,400 shares of the company’s stock worth $10,214,000 after buying an additional 251,600 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Carpenter Technology Corp. (NYSE:CRS) opened at 39.46 on Thursday. Carpenter Technology Corp. has a 52-week low of $23.99 and a 52-week high of $42.27. The stock’s 50 day moving average is $38.34 and its 200-day moving average is $35.78. The firm has a market cap of $1.84 billion, a P/E ratio of 171.57 and a beta of 2.01.
Carpenter Technology Corp. (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Carpenter Technology Corp. had a return on equity of 4.66% and a net margin of 0.63%. The firm earned $457.70 million during the quarter, compared to analyst estimates of $454 million. During the same period last year, the company posted $0.52 EPS. The business’s quarterly revenue was down 18.0% compared to the same quarter last year. Equities analysts anticipate that Carpenter Technology Corp. will post $1.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, October 25th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, October 21st. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. Carpenter Technology Corp.’s payout ratio is presently 327.27%.
A number of research firms recently issued reports on CRS. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Monday, October 3rd. Seaport Global Securities began coverage on shares of Carpenter Technology Corp. in a research report on Friday, September 9th. They issued a “neutral” rating and a $38.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of C$38.20.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the completion of the sale, the director now directly owns 12,613 shares in the company, valued at approximately C$489,132.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.60% of the company’s stock.
About Carpenter Technology Corp.
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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