Carillon Tower Advisers Inc. bought a new position in Carpenter Technology Co. (NYSE:CRS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,150 shares of the basic materials company’s stock, valued at approximately $1,594,000. Carillon Tower Advisers Inc. owned about 0.08% of Carpenter Technology as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Carpenter Technology by 42.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 1,042 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in Carpenter Technology by 28.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 4,928 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 1,100 shares during the last quarter. ING Groep NV boosted its position in Carpenter Technology by 23.3% in the fourth quarter. ING Groep NV now owns 7,064 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 1,337 shares during the last quarter. Citigroup Inc. boosted its position in Carpenter Technology by 153.9% in the first quarter. Citigroup Inc. now owns 2,511 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Carpenter Technology in the fourth quarter worth about $103,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.
CRS has been the topic of several research reports. Cowen reissued a “buy” rating and issued a $66.00 target price on shares of Carpenter Technology in a research report on Friday, June 1st. ValuEngine raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Zacks Investment Research raised Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Monday, April 16th. Finally, Deutsche Bank raised their price objective on Carpenter Technology from $47.00 to $49.00 and gave the stock a “hold” rating in a research note on Wednesday, April 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $56.50.
In other news, insider Tony R. Thene sold 31,797 shares of the stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $58.83, for a total value of $1,870,617.51. Following the transaction, the insider now directly owns 130,472 shares of the company’s stock, valued at $7,675,667.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director I Martin Inglis sold 2,358 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $53.36, for a total transaction of $125,822.88. The disclosure for this sale can be found here. Insiders have sold 61,419 shares of company stock worth $3,556,619 over the last ninety days. Insiders own 4.51% of the company’s stock.
NYSE CRS opened at $56.99 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 2.97. Carpenter Technology Co. has a 52 week low of $35.58 and a 52 week high of $61.49. The stock has a market capitalization of $2.63 billion, a PE ratio of 52.77 and a beta of 2.02.
Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Carpenter Technology had a net margin of 8.36% and a return on equity of 8.23%. The firm had revenue of $572.20 million for the quarter, compared to analyst estimates of $518.98 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. equities analysts predict that Carpenter Technology Co. will post 2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 7th. Shareholders of record on Tuesday, May 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, April 30th. Carpenter Technology’s dividend payout ratio (DPR) is currently 66.67%.
About Carpenter Technology
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels.
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