Fmr LLC raised its position in Carpenter Technology Corporation (NYSE:CRS) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 4,719,016 shares of the basic materials company’s stock after buying an additional 21,800 shares during the period. Fmr LLC owned 0.10% of Carpenter Technology Corporation worth $176,019,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Elkfork Partners LLC acquired a new stake in Carpenter Technology Corporation during the fourth quarter worth approximately $112,000. Dubuque Bank & Trust Co. acquired a new stake in Carpenter Technology Corporation during the first quarter worth approximately $134,000. Capstone Asset Management Co. acquired a new stake in Carpenter Technology Corporation during the first quarter worth approximately $209,000. Stevens Capital Management LP acquired a new stake in Carpenter Technology Corporation during the first quarter worth approximately $215,000. Finally, Envestnet Asset Management Inc. raised its stake in Carpenter Technology Corporation by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,923 shares of the basic materials company’s stock worth $220,000 after buying an additional 1,028 shares in the last quarter. 94.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Carpenter Technology Corporation (CRS) traded down 1.39% during trading on Tuesday, hitting $36.15. 19,768 shares of the stock were exchanged. The stock has a market cap of $1.69 billion, a P/E ratio of 47.13 and a beta of 2.08. Carpenter Technology Corporation has a 52 week low of $29.92 and a 52 week high of $45.33. The firm’s 50 day moving average price is $37.15 and its 200-day moving average price is $38.05.
Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.12. Carpenter Technology Corporation had a net margin of 2.08% and a return on equity of 3.57%. The company had revenue of $473.60 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same period in the prior year, the company posted $0.30 earnings per share. Carpenter Technology Corporation’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts predict that Carpenter Technology Corporation will post $0.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Tuesday, May 2nd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, April 28th. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 92.31%.
A number of analysts have commented on the stock. Seaport Global Securities raised shares of Carpenter Technology Corporation from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, March 16th. Longbow Research assumed coverage on shares of Carpenter Technology Corporation in a research report on Tuesday, March 21st. They set a “buy” rating and a $48.00 price target on the stock. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, April 5th. Finally, Cowen and Company reissued a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.83.
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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