First Trust Advisors LP decreased its stake in Carpenter Technology Corp. (NYSE:CRS) by 55.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,839 shares of the company’s stock after selling 46,697 shares during the period. First Trust Advisors LP owned approximately 0.08% of Carpenter Technology Corp. worth $1,213,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRS. State Street Corp increased 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 valued at $73,673,000 after buying an additional 294,803 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Carpenter Technology Corp. by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 1,347,978 shares of the company’s stock worth $44,388,000 after buying an additional 49,577 shares during the period. Royce & Associates LP increased its stake in Carpenter Technology Corp. by 10.2% in the first quarter. Royce & Associates LP now owns 522,180 shares of the company’s stock worth $17,874,000 after buying an additional 48,500 shares during the period. Wellington Management Group LLP bought a new stake in Carpenter Technology Corp. during the first quarter worth about $15,171,000. Finally, Canada Pension Plan Investment Board increased its stake 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 worth $10,214,000 after buying an additional 251,600 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Shares of Carpenter Technology Corp. (NYSE:CRS) traded up 0.93% during trading on Friday, reaching $41.26. 421,077 shares of the company’s stock were exchanged. Carpenter Technology Corp. has a 12 month low of $23.99 and a 12 month high of $42.25. The stock has a 50-day moving average price of $37.60 and a 200 day moving average price of $35.42. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 179.39 and a beta of 1.97.
Carpenter Technology Corp. (NYSE:CRS) last announced its quarterly 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. The company had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $454 million. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. Carpenter Technology Corp.’s revenue was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. On average, analysts forecast that Carpenter Technology Corp. will post $1.56 EPS for the current year.
A number of analysts recently issued reports on CRS shares. Zacks Investment Research upgraded shares of Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, August 16th. Rosenblatt Securities restated a “buy” rating and set a $42.00 price objective on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Finally, Seaport Global Securities started coverage on shares of Carpenter Technology Corp. in a report on Friday, September 9th. They set a “neutral” rating and a $38.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Carpenter Technology Corp. has a consensus rating of “Hold” and a consensus target price of C$37.80.
In related news, Director Gregory A. Pratt sold 10,358 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of C$38.78, for a total value of C$401,683.24. Following the transaction, the director now owns 12,613 shares in the company, valued at approximately C$489,132.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.60% of the stock is currently owned by corporate insiders.
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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