Bank of Montreal Can acquired a new stake in shares of Carpenter Technology Corp. (NYSE:CRS) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 113,934 shares of the company’s stock, valued at approximately $3,752,000.
Several other institutional investors have also recently modified their holdings of CRS. Menta Capital LLC bought a new position in shares of Carpenter Technology Corp. during the first quarter valued at about $342,000. Invictus RG boosted its position in shares of Carpenter Technology Corp. by 2,402.9% in the first quarter. Invictus RG now owns 11,263 shares of the company’s stock valued at $386,000 after buying an additional 10,813 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of Carpenter Technology Corp. by 48.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 12,191 shares of the company’s stock valued at $401,000 after buying an additional 3,965 shares in the last quarter. Pacad Investment Ltd. boosted its position in shares of Carpenter Technology Corp. by 18.7% in the first quarter. Pacad Investment Ltd. now owns 12,700 shares of the company’s stock valued at $435,000 after buying an additional 2,000 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Carpenter Technology Corp. during the first quarter valued at about $534,000. 95.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Carpenter Technology Corp. (NYSE:CRS) traded down 0.65% during midday trading on Friday, reaching $37.96. 195,102 shares of the company’s stock were exchanged. 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 $1.77 billion, a price-to-earnings ratio of 165.04 and a beta of 2.01. The stock’s 50 day moving average price is $38.42 and its 200 day moving average price is $35.82.
Carpenter Technology Corp. (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. The company earned $457.70 million during the quarter, compared to the consensus estimate of $454 million. During the same quarter in the prior year, the company posted $0.52 EPS. The company’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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, October 25th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, October 21st. Carpenter Technology Corp.’s dividend payout ratio is currently 327.27%.
CRS has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Monday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $42.00 price target on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Finally, Seaport Global Securities initiated coverage on shares of Carpenter Technology Corp. in a research report on Friday, September 9th. They set a “neutral” rating and a $38.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of C$38.20.
In other news, Director Gregory A. Pratt sold 10,358 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the completion of the transaction, the director now owns 12,613 shares of the company’s stock, valued at approximately C$489,132.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.
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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