OLD National Bancorp IN raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 115.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,584 shares of the basic materials company’s stock after buying an additional 9,410 shares during the period. OLD National Bancorp IN’s holdings in Carpenter Technology were worth $897,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. New York State Common Retirement Fund boosted its position in shares of Carpenter Technology by 4.7% during the second quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock valued at $1,909,000 after buying an additional 2,299 shares during the period. California Public Employees Retirement System boosted its position in shares of Carpenter Technology by 3.5% during the third quarter. California Public Employees Retirement System now owns 123,300 shares of the basic materials company’s stock valued at $5,922,000 after buying an additional 4,200 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Carpenter Technology by 38.9% during the third 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 buying an additional 347,965 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Carpenter Technology during the third quarter valued at approximately $313,000. Finally, Eagle Asset Management Inc. boosted its position in shares of Carpenter Technology by 1.4% during the third quarter. Eagle Asset Management Inc. now owns 182,545 shares of the basic materials company’s stock valued at $9,127,000 after buying an additional 2,449 shares during the period. Institutional investors and hedge funds own 94.64% of the company’s stock.
Shares of Carpenter Technology Co. (NYSE CRS) opened at $49.41 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2,284.36, a P/E ratio of 23.64 and a beta of 2.05. Carpenter Technology Co. has a twelve month low of $34.24 and a twelve month high of $54.61.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $487.80 million during the quarter, compared to analyst estimates of $482.20 million. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. Carpenter Technology’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. research analysts expect that Carpenter Technology Co. will post 2.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.46%. Carpenter Technology’s payout ratio is 21.24%.
A number of brokerages recently issued reports on CRS. Zacks Investment Research lowered Carpenter Technology from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Finally, Cowen reiterated a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology in a report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.25.
In related news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.51% of the stock is currently owned by insiders.
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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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