Eagle Asset Management Inc. boosted its stake in Carpenter Technology Corporation (NYSE:CRS) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,545 shares of the basic materials company’s stock after purchasing an additional 2,449 shares during the period. Eagle Asset Management Inc. owned approximately 0.39% of Carpenter Technology worth $9,127,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of CRS. Riverhead Capital Management LLC grew its position in shares of Carpenter Technology by 64.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 1,097 shares during the period. LS Investment Advisors LLC grew its position in shares of Carpenter Technology by 17.4% during the 2nd quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 556 shares during the period. Turner Investments LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at $192,000. Public Employees Retirement System of Ohio grew its position in shares of Carpenter Technology by 1.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 92 shares during the period. Finally, ING Groep NV bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at $213,000. 95.97% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a research report on Wednesday, October 11th. Zacks Investment Research raised shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, October 3rd. Finally, Cowen boosted their price objective on shares of Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $48.17.
Carpenter Technology Corporation (CRS) opened at $49.37 on Friday. The firm has a market cap of $2,311.36, a price-to-earnings ratio of 29.74 and a beta of 2.08. The company has a quick ratio of 0.98, a current ratio of 2.91 and a debt-to-equity ratio of 0.45. Carpenter Technology Corporation has a 1-year low of $34.24 and a 1-year high of $51.88.
Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million during the quarter, compared to the consensus estimate of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. Carpenter Technology’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. analysts expect that Carpenter Technology Corporation will post 2.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 23rd. Carpenter Technology’s dividend payout ratio is currently 44.44%.
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Carpenter Technology Company Profile
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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