Shares of Carpenter Technology Corp. (NYSE:CRS) saw unusually-high trading volume on Monday . Approximately 334,769 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 374,797 shares.The stock last traded at $37.84 and had previously closed at $36.48.

Several equities analysts have recently weighed in on CRS shares. Rosenblatt Securities reissued a “buy” rating and set a $42.00 target price on shares of Carpenter Technology Corp. in a research report on Tuesday, May 17th. Sterne Agee CRT reissued a “neutral” rating on shares of Carpenter Technology Corp. in a research report on Monday, May 16th. Finally, Zacks Investment Research downgraded Carpenter Technology Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$37.60.

The firm has a market capitalization of $1.77 billion and a P/E ratio of 101.82. The stock’s 50-day moving average price is $33.11 and its 200-day moving average price is $31.57.

Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. During the same quarter in the prior year, the company posted $0.32 EPS. The business had revenue of $456.30 million for the quarter, compared to analysts’ expectations of $470.75 million. The business’s revenue for the quarter was down 20.0% compared to the same quarter last year. On average, equities analysts expect that Carpenter Technology Corp. will post $1.17 earnings per share for the current year.

A number of institutional investors have modified their holdings of CRS. Dimensional Fund Advisors LP increased its position in shares of Carpenter Technology Corp. by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,118,121 shares of the company’s stock worth $64,117,000 after buying an additional 392,393 shares in the last quarter. Sandhill Capital Partners LLC increased its position in shares of Carpenter Technology Corp. by 407.2% in the fourth quarter. Sandhill Capital Partners LLC now owns 419,455 shares of the company’s stock worth $12,697,000 after buying an additional 336,749 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Carpenter Technology Corp. during the fourth quarter worth about $2,599,000. EdgePoint Investment Group Inc. increased its position in shares of Carpenter Technology Corp. by 0.8% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,762,766 shares of the company’s stock worth $144,169,000 after buying an additional 39,189 shares in the last quarter. Finally, IronBridge Capital Management LP increased its position in Carpenter Technology Corp. by 20.9% in the fourth quarter. IronBridge Capital Management LP now owns 157,621 shares of the company’s stock valued at $4,771,000 after buying an additional 27,250 shares during the period.

Carpenter Technology Corporation is engaged in the manufacture, fabrication and distribution of specialty metals. It develops, manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense, energy, transportation, medical and industrial and consumer industries.

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