Russell Investments Group Ltd. decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 68.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,952 shares of the basic materials company’s stock after selling 294,394 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.28% of Carpenter Technology worth $6,427,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Carpenter Technology during the 1st quarter worth about $339,000. OLD National Bancorp IN grew its holdings in shares of Carpenter Technology by 12.9% during the 1st quarter. OLD National Bancorp IN now owns 8,606 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 986 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth about $203,000. Mason Street Advisors LLC grew its holdings in shares of Carpenter Technology by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 25,195 shares of the basic materials company’s stock worth $1,155,000 after purchasing an additional 383 shares during the period. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Carpenter Technology by 1.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,106,922 shares of the basic materials company’s stock worth $50,752,000 after purchasing an additional 10,603 shares during the period. Institutional investors own 92.27% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, June 19th. Longbow Research set a $59.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, ValuEngine raised Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.50.
Carpenter Technology stock traded up $0.71 during midday trading on Friday, hitting $55.51. 5,621 shares of the company were exchanged, compared to its average volume of 216,042. The company’s fifty day moving average price is $47.26 and its 200-day moving average price is $46.80. The company has a market cap of $2.51 billion, a PE ratio of 15.84 and a beta of 2.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.97 and a quick ratio of 1.08. Carpenter Technology Co. has a fifty-two week low of $32.77 and a fifty-two week high of $60.78.
Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. The firm had revenue of $641.40 million for the quarter, compared to analyst estimates of $637.84 million. Carpenter Technology had a return on equity of 10.33% and a net margin of 7.02%. Carpenter Technology’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. On average, analysts expect that Carpenter Technology Co. will post 3.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Monday, August 26th. Carpenter Technology’s dividend payout ratio (DPR) is presently 23.12%.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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