Essex Investment Management Co. LLC reduced its stake in Carpenter Technology Corporation (NYSE:CRS) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,400 shares of the basic materials company’s stock after selling 5,355 shares during the quarter. Essex Investment Management Co. LLC owned 0.07% of Carpenter Technology Corporation worth $1,652,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Carpenter Technology Corporation by 17,365.7% in the 1st quarter. BlackRock Inc. now owns 5,071,683 shares of the basic materials company’s stock valued at $189,174,000 after acquiring an additional 5,042,645 shares in the last quarter. Vanguard Group Inc. lifted its position in Carpenter Technology Corporation by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,921,611 shares of the basic materials company’s stock valued at $146,786,000 after acquiring an additional 12,320 shares in the last quarter. Victory Capital Management Inc. lifted its position in Carpenter Technology Corporation by 103.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,828,669 shares of the basic materials company’s stock valued at $87,831,000 after acquiring an additional 928,150 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Carpenter Technology Corporation by 18.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock valued at $61,809,000 after acquiring an additional 253,969 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Carpenter Technology Corporation by 1.6% in the 2nd quarter. Northern Trust Corp now owns 1,072,901 shares of the basic materials company’s stock valued at $40,158,000 after acquiring an additional 16,916 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Carpenter Technology Corporation (CRS) opened at $49.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91. Carpenter Technology Corporation has a 52-week low of $30.97 and a 52-week high of $51.88. The company has a market cap of $2.31 billion, a PE ratio of 29.69 and a beta of 2.09.
Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Carpenter Technology Corporation had a net margin of 4.06% and a return on equity of 6.67%. The firm had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. During the same quarter in the prior year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. sell-side analysts anticipate that Carpenter Technology Corporation will post 2.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 44.72%.
COPYRIGHT VIOLATION NOTICE: This article was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.com-unik.info/2017/11/04/essex-investment-management-co-llc-cuts-position-in-carpenter-technology-corporation-crs.html.
CRS has been the topic of several research reports. Cowen and Company reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, July 18th. Longbow Research boosted their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 28th. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology Corporation in a research report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Carpenter Technology Corporation currently has a consensus rating of “Buy” and a consensus price target of $48.17.
In other news, Director Steven E. Karol sold 2,645 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total value of $107,122.50. Following the transaction, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Wadsworth sold 4,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $40.25, for a total transaction of $161,000.00. Following the completion of the sale, the director now directly owns 4,200 shares of the company’s stock, valued at $169,050. The disclosure for this sale can be found here. Insiders sold a total of 26,522 shares of company stock worth $1,065,580 in the last quarter. Company insiders own 4.51% 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.
What are top analysts saying about Carpenter Technology Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Carpenter Technology Corporation and related companies.