Carpenter Technology Corp. (NYSE:CRS) shares dropped 2.2% during trading on Friday . The company traded as low as $36.56 and last traded at $36.68, with a volume of 145,940 shares. The stock had previously closed at $37.51.

CRS has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $42.00 target price on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Zacks Investment Research raised Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 18th. Finally, Sterne Agee CRT reaffirmed a “neutral” rating on shares of Carpenter Technology Corp. in a report on Monday, May 16th.

The firm has a 50 day moving average price of $36.85 and a 200 day moving average price of $33.33. The company has a market cap of $1.72 billion and a price-to-earnings ratio of 159.22.

Carpenter Technology Corp. (NYSE:CRS) last posted its earnings results on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $457.70 million for the quarter, compared to the consensus estimate of $454 million. During the same quarter last year, the business earned $0.52 earnings per share. Carpenter Technology Corp.’s quarterly revenue was down 18.0% on a year-over-year basis. On average, equities analysts predict that Carpenter Technology Corp. will post $1.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Tuesday, August 23rd will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, August 19th. This represents a $0.72 annualized dividend and a yield of 1.97%.

In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the firm’s 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 transaction, the director now directly owns 12,613 shares in the company, valued at C$489,132.14. The transaction was disclosed in a filing with the SEC, which is available through this link.

Several institutional investors have bought and sold shares of CRS. New York State Common Retirement Fund raised its position in Carpenter Technology Corp. by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 49,200 shares of the company’s stock worth $1,489,000 after buying an additional 1,500 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Carpenter Technology Corp. by 4.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 34,394 shares of the company’s stock worth $1,041,000 after buying an additional 1,558 shares during the last quarter. California Public Employees Retirement System raised its position in Carpenter Technology Corp. by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 137,600 shares of the company’s stock worth $4,165,000 after buying an additional 4,200 shares during the last quarter. Morgan Stanley raised its position in Carpenter Technology Corp. by 134.9% in the fourth quarter. Morgan Stanley now owns 40,431 shares of the company’s stock worth $1,224,000 after buying an additional 23,218 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 during the last quarter.

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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