Nationwide Fund Advisors increased its position in Carpenter Technology Corp. (NYSE:CRS) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,129 shares of the company’s stock after buying an additional 770 shares during the period. Nationwide Fund Advisors owned about 0.24% of Carpenter Technology Corp. worth $3,758,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CRS. Advisors Asset Management Inc. bought a new position in shares of Carpenter Technology Corp. during the second quarter worth approximately $176,000. Acrospire Investment Management LLC bought a new position in shares of Carpenter Technology Corp. during the first quarter worth approximately $226,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Carpenter Technology Corp. by 1.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,390 shares of the company’s stock worth $253,000 after buying an additional 85 shares during the period. Menta Capital LLC bought a new position in shares of Carpenter Technology Corp. during the first quarter worth approximately $342,000. Finally, DIAM Co. Ltd. boosted its position in shares of Carpenter Technology Corp. by 28.9% in the second quarter. DIAM Co. Ltd. now owns 10,700 shares of the company’s stock worth $352,000 after buying an additional 2,400 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.
Carpenter Technology Corp. (NYSE:CRS) traded up 1.638% during midday trading on Wednesday, reaching $40.635. The company’s stock had a trading volume of 98,289 shares. The firm has a 50 day moving average price of $37.77 and a 200-day moving average price of $35.54. The company has a market cap of $1.89 billion, a P/E ratio of 176.674 and a beta of 2.01. Carpenter Technology Corp. has a 12-month low of $23.99 and a 12-month high of $42.25.
Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $454 million. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was down 18.0% compared to the same quarter last year. On average, equities research analysts predict that Carpenter Technology Corp. will post $1.56 earnings per share for the current fiscal year.
A number of brokerages have commented on CRS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 price target on shares of Carpenter Technology Corp. in a research note on Friday, July 8th. Zacks Investment Research upgraded Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, August 16th. Finally, Seaport Global Securities started coverage on Carpenter Technology Corp. in a research report on Friday, September 9th. They set a “neutral” rating and a $38.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$38.20.
In other news, Director Gregory A. Pratt sold 10,358 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of C$38.78, for a total value of C$401,683.24. Following the sale, the director now directly owns 12,613 shares in the company, valued at C$489,132.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Company 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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