UBS Asset Management Americas Inc. maintained its stake in shares of Carpenter Technology Corp. (NYSE:CRS) during the second quarter, according to its most recent filing with the SEC. The fund owned 29,764 shares of the company’s stock at the end of the second quarter. UBS Asset Management Americas Inc. owned 0.06% of Carpenter Technology Corp. worth $980,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new stake in shares of Carpenter Technology Corp. during the second quarter valued at approximately $176,000. Menta Capital LLC bought a new position in shares of Carpenter Technology Corp. during the first quarter valued at about $342,000. DIAM Co. Ltd. increased its position in shares of Carpenter Technology Corp. by 28.9% in the second quarter. DIAM Co. Ltd. now owns 10,700 shares of the company’s stock valued at $352,000 after buying an additional 2,400 shares during the period. Invictus RG increased 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 during the period. Finally, Independent Portfolio Consultants Inc. increased 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 during the period. Institutional investors own 95.87% of the company’s stock.
Shares of Carpenter Technology Corp. (NYSE:CRS) opened at 38.71 on Wednesday. The firm’s 50-day moving average price is $38.49 and its 200 day moving average price is $35.89. The company has a market capitalization of $1.80 billion, a PE ratio of 168.30 and a beta of 2.01. Carpenter Technology Corp. has a one year low of $23.99 and a one year high of $42.27.
Carpenter Technology Corp. (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $457.70 million for 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 company’s quarterly revenue was down 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Analysts anticipate 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. Investors 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 dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, October 21st. Carpenter Technology Corp.’s payout ratio is currently 327.27%.
Several research analysts recently issued reports on CRS shares. 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 started 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 issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of C$38.20.
In related news, Director Gregory A. Pratt sold 10,358 shares of the firm’s stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by corporate 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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