Tocqueville Asset Management L.P. reduced its position in shares of Carpenter Technology Corp. (NYSE:CRS) by 34.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 302,799 shares of the company’s stock after selling 155,650 shares during the period. Tocqueville Asset Management L.P.’s holdings in Carpenter Technology Corp. were worth $9,971,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Carpenter Technology Corp. by 15.9% in the first quarter. State Street Corp now owns 2,152,286 shares of the company’s stock worth $73,673,000 after buying an additional 294,803 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Carpenter Technology Corp. by 232.5% in the first quarter. JPMorgan Chase & Co. now owns 253,838 shares of the company’s stock worth $8,689,000 after buying an additional 177,486 shares during the period. Prudential Financial Inc. boosted its stake in shares of Carpenter Technology Corp. by 44.5% in the first quarter. Prudential Financial Inc. now owns 45,920 shares of the company’s stock worth $1,572,000 after buying an additional 14,140 shares during the period. Invictus RG boosted its stake in shares of Carpenter Technology Corp. by 2,402.9% in the first quarter. Invictus RG now owns 11,263 shares of the company’s stock worth $386,000 after buying an additional 10,813 shares during the period. Finally, Menta Capital LLC purchased a new stake in shares of Carpenter Technology Corp. during the first quarter worth about $342,000. 95.87% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Corp. (NYSE:CRS) traded up 1.53% during mid-day trading on Monday, reaching $38.54. The company’s stock had a trading volume of 99,369 shares. Carpenter Technology Corp. has a 12 month low of $23.99 and a 12 month high of $42.27. The firm has a market capitalization of $1.80 billion, a PE ratio of 167.57 and a beta of 2.01. The stock’s 50-day moving average is $38.42 and its 200-day moving average is $35.82.
Carpenter Technology Corp. (NYSE:CRS) last announced its earnings results on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $457.70 million for the quarter, compared to analyst estimates of $454 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. On average, equities analysts anticipate that Carpenter Technology Corp. will post $1.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, October 25th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 21st. Carpenter Technology Corp.’s payout ratio is 327.27%.
CRS has been the subject of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $42.00 target price on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Zacks Investment Research cut Carpenter Technology Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, Seaport Global Securities initiated coverage on Carpenter Technology Corp. in a research report on Friday, September 9th. They issued a “neutral” rating and a $38.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of C$38.20.
In other news, Director Gregory A. Pratt sold 10,358 shares of Carpenter Technology Corp. stock in a transaction dated 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 directly owns 12,613 shares of the company’s stock, valued at C$489,132.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.
Carpenter Technology Corp. 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.
Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Corp. (NYSE:CRS).
Receive News & Ratings for Carpenter Technology Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology Corp. and related companies with MarketBeat.com's FREE daily email newsletter.