Ameriprise Financial Inc. raised its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 687,169 shares of the basic materials company’s stock after purchasing an additional 6,413 shares during the period. Ameriprise Financial Inc. owned 1.47% of Carpenter Technology worth $33,005,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Victory Capital Management Inc. boosted its holdings in shares of Carpenter Technology by 103.1% during 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 purchasing an additional 928,150 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Carpenter Technology in the 3rd quarter valued at about $20,374,000. Emerald Advisers Inc. PA bought a new position in shares of Carpenter Technology in the 3rd quarter valued at about $18,193,000. Frontier Capital Management Co. LLC lifted its holdings in shares of Carpenter Technology by 38.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock valued at $59,674,000 after acquiring an additional 347,965 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Carpenter Technology 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 during the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.
CRS has been the topic of a number of recent analyst reports. KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Cowen increased their price objective on shares of Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Carpenter Technology presently has a consensus rating of “Buy” and a consensus price target of $48.17.
Carpenter Technology Corporation (NYSE CRS) opened at $49.37 on Monday. The stock has a market cap of $2,311.34, a P/E ratio of 29.74 and a beta of 2.07. 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 1-year low of $34.24 and a 1-year high of $51.88.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million for the quarter, compared to analyst estimates of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. Carpenter Technology’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. equities analysts predict that Carpenter Technology Corporation will post 2.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be issued a dividend of $0.18 per share. 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 payout ratio is 44.44%.
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About Carpenter Technology
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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