Fox Run Management L.L.C. purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,400 shares of the basic materials company’s stock, valued at approximately $202,000.
Other hedge funds also recently made changes to their positions in the company. Elkfork Partners LLC increased its stake in shares of Carpenter Technology Corporation by 3.3% in the first quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock worth $119,000 after buying an additional 102 shares in the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of Carpenter Technology Corporation during the first quarter worth about $134,000. Public Employees Retirement System of Ohio increased its stake in shares of Carpenter Technology Corporation by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after buying an additional 92 shares in the last quarter. Capstone Asset Management Co. bought a new stake in shares of Carpenter Technology Corporation during the first quarter worth about $209,000. Finally, Stevens Capital Management LP bought a new stake in shares of Carpenter Technology Corporation during the first quarter worth about $215,000. Institutional investors own 94.95% of the company’s stock.
Shares of Carpenter Technology Corporation (NYSE:CRS) opened at 37.90 on Friday. The stock has a 50 day moving average of $38.33 and a 200-day moving average of $38.16. The company has a market capitalization of $1.79 billion, a P/E ratio of 38.28 and a beta of 2.08. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $45.34.
Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $507.70 million during the quarter, compared to the consensus estimate of $502.40 million. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Equities research analysts forecast that Carpenter Technology Corporation will post $2.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.72 annualized dividend and a dividend yield of 1.90%. Carpenter Technology Corporation’s dividend payout ratio is presently 72.00%.
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A number of analysts have issued reports on the stock. Longbow Research lifted their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research downgraded shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Cowen and Company restated a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Finally, TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $43.50.
In other news, Director Steven E. Karol sold 3,877 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $40.18, for a total transaction of $155,777.86. Following the completion of the sale, the director now owns 230,418 shares in the company, valued at approximately $9,258,195.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 294,000 shares of company stock valued at $21,490 in the last 90 days. Insiders own 3.60% of the company’s stock.
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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