Foundry Partners LLC Boosts Stake in Carpenter Technology Corporation (CRS)

Foundry Partners LLC raised its position in Carpenter Technology Corporation (NYSE:CRS) by 50.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,360 shares of the basic materials company’s stock after buying an additional 4,825 shares during the period. Foundry Partners LLC’s holdings in Carpenter Technology Corporation were worth $537,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Granite Investment Partners LLC raised its stake in shares of Carpenter Technology Corporation by 0.4% in the second quarter. Granite Investment Partners LLC now owns 18,230 shares of the basic materials company’s stock worth $682,000 after buying an additional 75 shares during the last quarter. Public Employees Retirement System of Ohio raised 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 during the last quarter. Elkfork Partners LLC raised 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 during the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of Carpenter Technology Corporation by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after buying an additional 107 shares during the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of Carpenter Technology Corporation by 3.3% in the first quarter. Advantus Capital Management Inc now owns 5,982 shares of the basic materials company’s stock worth $223,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 95.59% of the company’s stock.

Shares of Carpenter Technology Corporation (NYSE CRS) opened at 37.63 on Friday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 38.01 and a beta of 2.08. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.33. The stock’s 50 day moving average price is $38.48 and its 200 day moving average price is $38.09.

Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 4.48% and a net margin of 2.61%. Carpenter Technology Corporation’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Analysts expect that Carpenter Technology Corporation will post $2.16 EPS for the current fiscal year.

The company 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 dividend of $0.18 per share. The ex-dividend date is Friday, August 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.91%. Carpenter Technology Corporation’s payout ratio is presently 72.00%.

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A number of equities research analysts have commented on the company. Cowen and Company restated a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Longbow Research raised their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, July 18th. Finally, TheStreet upgraded 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 three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.50.

In related news, Director Steven E. Karol sold 3,877 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the completion of the transaction, the director now directly owns 230,418 shares in the company, valued at $9,258,195.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 294,000 shares of company stock valued at $21,490. 3.60% of the stock is owned by corporate insiders.

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

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