Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in Carpenter Technology Co. (NYSE:CRS – Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,363 shares of the basic materials company’s stock after selling 484 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.11% of Carpenter Technology worth $2,299,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. LPL Financial LLC raised its stake in Carpenter Technology by 1.0% during the fourth quarter. LPL Financial LLC now owns 21,039 shares of the basic materials company’s stock valued at $777,000 after buying an additional 204 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Carpenter Technology by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 63,867 shares of the basic materials company’s stock valued at $2,359,000 after buying an additional 345 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Carpenter Technology by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 13,226 shares of the basic materials company’s stock valued at $369,000 after buying an additional 361 shares in the last quarter. Legal & General Group Plc raised its stake in Carpenter Technology by 0.3% during the second quarter. Legal & General Group Plc now owns 141,295 shares of the basic materials company’s stock valued at $3,943,000 after buying an additional 392 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Carpenter Technology by 3.0% during the first quarter. Arizona State Retirement System now owns 14,037 shares of the basic materials company’s stock valued at $628,000 after buying an additional 407 shares in the last quarter. Institutional investors and hedge funds own 92.31% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on CRS shares. TheStreet upgraded Carpenter Technology from a “c+” rating to a “b” rating in a research note on Tuesday, June 20th. TD Cowen upped their price objective on Carpenter Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, StockNews.com began coverage on Carpenter Technology in a report on Thursday. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $57.00.
Carpenter Technology Stock Down 1.6 %
NYSE:CRS opened at $57.48 on Friday. The firm has a market capitalization of $2.81 billion, a PE ratio of 49.98 and a beta of 1.80. The stock has a 50 day moving average of $55.83 and a 200-day moving average of $50.25. Carpenter Technology Co. has a 52 week low of $31.02 and a 52 week high of $61.02. The company has a current ratio of 2.79, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.
Carpenter Technology (NYSE:CRS – Get Free Report) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Carpenter Technology had a return on equity of 4.21% and a net margin of 2.21%. The company had revenue of $758.10 million during the quarter, compared to analyst estimates of $743.07 million. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. Analysts predict that Carpenter Technology Co. will post 3.48 EPS for the current year.
Carpenter Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, August 21st. Carpenter Technology’s dividend payout ratio (DPR) is 69.57%.
Insider Buying and Selling
In related news, Director Steven E. Karol sold 810 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $60.55, for a total value of $49,045.50. Following the completion of the transaction, the director now directly owns 229,733 shares of the company’s stock, valued at approximately $13,910,333.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Brian J. Malloy sold 10,372 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.69, for a total value of $619,104.68. Following the completion of the transaction, the senior vice president now directly owns 51,551 shares of the company’s stock, valued at approximately $3,077,079.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven E. Karol sold 810 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $60.55, for a total value of $49,045.50. Following the completion of the transaction, the director now directly owns 229,733 shares of the company’s stock, valued at $13,910,333.15. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.
Carpenter Technology Profile
Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.
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