Carpenter Technology Corp. (CRS) Trading Down 2.9%
Carpenter Technology Corp. (NYSE:CRS)’s share price fell 2.9% during mid-day trading on Friday . The stock traded as low as $36.55 and last traded at $36.58, with a volume of 132,637 shares. The stock had previously closed at $37.69.
Several research firms have issued reports on CRS. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 price target on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Finally, Sterne Agee CRT reaffirmed a “neutral” rating on shares of Carpenter Technology Corp. in a report on Monday, May 16th.
The firm’s 50 day moving average price is $37.72 and its 200 day moving average price is $33.72. The company has a market cap of $1.72 billion and a PE ratio of 159.30.
Carpenter Technology Corp. (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. During the same period in the previous year, the business posted $0.52 EPS. The company had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $454 million. The business’s revenue for the quarter was down 18.0% on a year-over-year basis. On average, equities research analysts predict that Carpenter Technology Corp. will post $1.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Tuesday, August 23rd will be given a dividend of $0.18 per share. The ex-dividend date is Friday, August 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.97%.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the sale, the director now directly owns 12,613 shares in the company, valued at approximately C$489,132.14. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Other large investors have added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake 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 period. 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 worth $64,117,000 after buying an additional 392,393 shares during the period. Morgan Stanley raised its stake 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 period. Finally, Mutual of America Capital Management LLC raised its stake 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 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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