New York State Teachers Retirement System continued to hold its position in shares of Carpenter Technology Corp. (NYSE:CRS) during the second quarter, Holdings Channel reports. The firm owned 85,593 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Carpenter Technology Corp. were worth $2,819,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of CRS. Wellington Management Group LLP bought a new position in Carpenter Technology Corp. during the first quarter valued at $15,171,000. Meeder Asset Management Inc. bought a new position in Carpenter Technology Corp. during the first quarter valued at $639,000. State Street Corp raised its position in Carpenter Technology Corp. by 15.9% in the first quarter. State Street Corp now owns 2,152,286 shares of the company’s stock valued at $73,673,000 after buying an additional 294,803 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Carpenter Technology Corp. by 537.6% in the first quarter. Canada Pension Plan Investment Board now owns 298,400 shares of the company’s stock valued at $10,214,000 after buying an additional 251,600 shares during the last quarter. Finally, Menta Capital LLC bought a new position in Carpenter Technology Corp. during the first quarter valued at $342,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.
Carpenter Technology Corp. (NYSE:CRS) traded down 0.83% during midday trading on Wednesday, hitting $39.46. The stock had a trading volume of 398,812 shares. Carpenter Technology Corp. has a 52 week low of $23.99 and a 52 week high of $42.27. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 171.57 and a beta of 2.01. The company’s 50 day moving average price is $38.28 and its 200-day moving average price is $35.75.
Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Carpenter Technology Corp. had a return on equity of 4.66% and a net margin of 0.63%. The company had revenue of $457.70 million for the quarter, compared to analyst estimates of $454 million. During the same quarter last year, the company posted $0.52 EPS. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. Equities analysts anticipate that Carpenter Technology Corp. will post $1.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, October 25th will be paid a $0.18 dividend. The ex-dividend date is Friday, October 21st. This represents a $0.72 annualized dividend and a dividend yield of 1.82%. Carpenter Technology Corp.’s payout ratio is 327.27%.
Several equities analysts have weighed in on the company. Seaport Global Securities assumed coverage on Carpenter Technology Corp. in a research note on Friday, September 9th. They issued a “neutral” rating and a $38.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $42.00 target price on shares of Carpenter Technology Corp. in a research note on Friday, July 8th. Finally, Zacks Investment Research raised Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Monday, October 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Carpenter Technology Corp. currently has a consensus rating of “Hold” and a consensus target price of C$38.20.
In related news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the sale, the director now owns 12,613 shares in the company, valued at approximately C$489,132.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.
About Carpenter Technology Corp.
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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