Fox Run Management L.L.C. Purchases New Stake in Carpenter Technology Corporation (CRS)

Fox Run Management L.L.C. purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,400 shares of the basic materials company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CRS. Norges Bank acquired a new position in shares of Carpenter Technology Corporation during the fourth quarter valued at approximately $34,577,000. Netols Asset Management Inc. raised its position in shares of Carpenter Technology Corporation by 14.2% in the first quarter. Netols Asset Management Inc. now owns 135,417 shares of the basic materials company’s stock valued at $5,051,000 after buying an additional 16,839 shares during the period. FMR LLC raised its position in shares of Carpenter Technology Corporation by 0.5% in the first quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock valued at $176,019,000 after buying an additional 21,800 shares during the period. Bank of America Corp DE raised its position in shares of Carpenter Technology Corporation by 9.9% in the first quarter. Bank of America Corp DE now owns 193,060 shares of the basic materials company’s stock valued at $7,201,000 after buying an additional 17,463 shares during the period. Finally, Augustine Asset Management Inc. acquired a new position in shares of Carpenter Technology Corporation during the first quarter valued at approximately $246,000. Institutional investors own 95.59% of the company’s stock.

Carpenter Technology Corporation (NYSE:CRS) traded up 1.36% during mid-day trading on Friday, hitting $37.96. 256,650 shares of the company traded hands. The company’s 50-day moving average is $38.50 and its 200-day moving average is $38.08. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.34. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 38.34 and a beta of 2.08.

Carpenter Technology Corporation (NYSE:CRS) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. Carpenter Technology Corporation’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts predict that Carpenter Technology Corporation will post $2.16 EPS for the current 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 given a dividend of $0.18 per share. The ex-dividend date is Friday, August 18th. This represents a $0.72 annualized dividend and a yield of 1.90%. Carpenter Technology Corporation’s dividend payout ratio is 72.00%.

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Several analysts recently issued reports on CRS shares. Zacks Investment Research downgraded shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Cowen and Company reaffirmed a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Thursday, April 27th. Finally, Longbow Research upped their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.50.

In related news, Director Steven E. Karol sold 3,877 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $9,258,195.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 294,000 shares of company stock valued at $21,490 in the last ninety days. 3.60% of the stock is currently owned by company 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.

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

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