Mason Street Advisors LLC Invests $700,000 in Carpenter Technology Corp. (CRS)
Mason Street Advisors LLC bought a new position in Carpenter Technology Corp. (NYSE:CRS) during the second quarter, Holdings Channel reports. The institutional investor bought 21,246 shares of the company’s stock, valued at approximately $700,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Carpenter Technology Corp. by 215.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,759 shares of the company’s stock worth $124,000 after buying an additional 2,569 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Carpenter Technology Corp. by 15.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,829 shares of the company’s stock worth $159,000 after buying an additional 632 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in Carpenter Technology Corp. during the second quarter worth $176,000. Amalgamated Bank purchased a new stake in Carpenter Technology Corp. during the second quarter worth $216,000. Finally, Advisor Group Inc. purchased a new stake in Carpenter Technology Corp. during the second quarter worth $197,000. Institutional investors own 95.90% of the company’s stock.
Carpenter Technology Corp. (NYSE:CRS) opened at 41.26 on Monday. The firm has a 50-day moving average price of $37.60 and a 200-day moving average price of $35.42. Carpenter Technology Corp. has a 52 week low of $23.99 and a 52 week high of $42.25. The stock has a market capitalization of $1.92 billion, a PE ratio of 179.39 and a beta of 2.01.
Carpenter Technology Corp. (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business earned $457.70 million during the quarter, compared to analyst estimates of $454 million. Carpenter Technology Corp. had a return on equity of 4.66% and a net margin of 0.63%. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. Equities research analysts predict that Carpenter Technology Corp. will post $1.56 EPS for the current fiscal year.
A number of equities analysts have commented on the company. Seaport Global Securities assumed coverage on Carpenter Technology Corp. in a research note on Friday, September 9th. They issued a “neutral” rating and a $38.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 price target on shares of Carpenter Technology Corp. in a research note on Friday, July 8th. Finally, Zacks Investment Research raised Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Carpenter Technology Corp. currently has a consensus rating of “Hold” and a consensus price target of C$37.80.
In other news, Director Gregory A. Pratt sold 10,358 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was 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 directly owns 12,613 shares of the company’s stock, valued at approximately C$489,132.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by insiders.
About Carpenter Technology Corp.
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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