Northern Trust Corp Raises Stake in Carpenter Technology Corporation (CRS)

Northern Trust Corp lifted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,072,901 shares of the basic materials company’s stock after acquiring an additional 16,916 shares during the quarter. Northern Trust Corp owned approximately 2.28% of Carpenter Technology Corporation worth $40,158,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CRS. BlackRock Inc. increased its position in shares of Carpenter Technology Corporation by 17,365.7% during the first quarter. BlackRock Inc. now owns 5,071,683 shares of the basic materials company’s stock worth $189,174,000 after acquiring an additional 5,042,645 shares during the period. Bank of New York Mellon Corp increased its position in shares of Carpenter Technology Corporation by 18.2% during the second quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock worth $61,809,000 after acquiring an additional 253,969 shares during the period. Vanguard Group Inc. increased its position in shares of Carpenter Technology Corporation by 6.1% during the first quarter. Vanguard Group Inc. now owns 3,909,291 shares of the basic materials company’s stock worth $145,817,000 after acquiring an additional 223,197 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Carpenter Technology Corporation by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,926,931 shares of the basic materials company’s stock worth $146,473,000 after acquiring an additional 206,068 shares during the period. Finally, Royce & Associates LP increased its position in shares of Carpenter Technology Corporation by 18.6% during the second quarter. Royce & Associates LP now owns 774,024 shares of the basic materials company’s stock worth $28,972,000 after acquiring an additional 121,300 shares during the period. 92.81% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities analysts have recently commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology Corporation in a research report on Wednesday. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, October 3rd. Longbow Research raised their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Cowen and Company reaffirmed a “hold” rating and set a $37.00 target price on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Finally, TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

In other Carpenter Technology Corporation news, Director Jeffrey Wadsworth sold 4,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $40.25, for a total transaction of $161,000.00. Following the sale, the director now directly owns 4,200 shares in the company, valued at approximately $169,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven E. Karol sold 3,877 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now owns 230,418 shares in the company, valued at $9,258,195.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,522 shares of company stock worth $1,065,580. Company insiders own 4.51% of the company’s stock.

Carpenter Technology Corporation (NYSE:CRS) opened at 49.55 on Friday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 50.05 and a beta of 2.10. The stock’s 50 day moving average is $44.14 and its 200-day moving average is $39.21. Carpenter Technology Corporation has a 12 month low of $30.37 and a 12 month high of $50.84.

Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The firm had revenue of $507.70 million for the quarter, compared to analyst estimates of $502.40 million. During the same period in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Carpenter Technology Corporation will post $2.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. Carpenter Technology Corporation’s dividend payout ratio is currently 72.00%.

Carpenter Technology Corporation 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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Institutional Ownership by Quarter for Carpenter Technology Corporation (NYSE:CRS)

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