Carpenter Technology Corp. (NYSE:CRS)’s share price was down 2.2% during mid-day trading on Friday . The stock traded as low as $36.56 and last traded at $36.68, with a volume of 145,940 shares trading hands. The stock had previously closed at $37.51.

Several equities analysts recently issued reports on CRS shares. Zacks Investment Research cut shares of Carpenter Technology Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 19th. Rosenblatt Securities restated a “buy” rating and issued a $42.00 price objective on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Finally, Sterne Agee CRT restated a “neutral” rating on shares of Carpenter Technology Corp. in a report on Monday, May 16th.

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

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

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

In other news, Director Gregory A. Pratt sold 10,358 shares of the firm’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 completion of the sale, the director now owns 12,613 shares in the company, valued at approximately C$489,132.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake 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 valued at $64,117,000 after buying an additional 392,393 shares during the period. Morgan Stanley raised its stake in shares of 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. Mutual of America Capital Management LLC raised its stake in shares of 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. New York State Common Retirement Fund raised its stake in shares of 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. Finally, California Public Employees Retirement System raised its stake in shares of 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.

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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