BlackRock Advisors LLC boosted its stake in Carpenter Technology Corp. (NYSE:CRS) by 17.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,547 shares of the company’s stock after buying an additional 33,308 shares during the period. BlackRock Advisors LLC owned approximately 0.47% of Carpenter Technology Corp. worth $7,263,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of CRS. Neuberger Berman Group LLC increased its stake in Carpenter Technology Corp. by 1.6% in the second quarter. Neuberger Berman Group LLC now owns 22,291 shares of the company’s stock valued at $734,000 after buying an additional 360 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Carpenter Technology Corp. by 2.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,752 shares of the company’s stock valued at $552,000 after buying an additional 380 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Carpenter Technology Corp. by 8.6% in the second quarter. Teacher Retirement System of Texas now owns 6,516 shares of the company’s stock valued at $215,000 after buying an additional 515 shares in the last quarter. Nationwide Fund Advisors increased its stake in Carpenter Technology Corp. by 0.7% in the second quarter. Nationwide Fund Advisors now owns 114,129 shares of the company’s stock valued at $3,758,000 after buying an additional 770 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Carpenter Technology Corp. by 7.0% in the second quarter. Nisa Investment Advisors LLC now owns 23,020 shares of the company’s stock valued at $758,000 after buying an additional 1,500 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.
Shares of Carpenter Technology Corp. (NYSE:CRS) opened at 39.46 on Thursday. Carpenter Technology Corp. has a 12 month low of $23.99 and a 12 month high of $42.27. The company has a market cap of $1.84 billion, a PE ratio of 171.57 and a beta of 2.01. The stock has a 50 day moving average of $38.34 and a 200-day moving average of $35.78.
Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business earned $457.70 million during the quarter, compared to analysts’ expectations of $454 million. Carpenter Technology Corp. had a return on equity of 4.66% and a net margin of 0.63%. The business’s quarterly revenue was down 18.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 earnings per share. Equities analysts forecast that Carpenter Technology Corp. will post $1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, October 25th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, October 21st. Carpenter Technology Corp.’s payout ratio is 327.27%.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 18th. Seaport Global Securities assumed coverage on shares of Carpenter Technology Corp. in a report on Friday, September 9th. They set a “neutral” rating and a $38.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $42.00 price objective on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of C$38.20.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of C$38.78, for a total value of C$401,683.24. Following the completion of the sale, the director now owns 12,613 shares in the company, valued at C$489,132.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.60% of the stock is owned by company insiders.
Carpenter Technology Corp. 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.
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