Carpenter Technology Corp. (NYSE:CRS) shares traded down 2.9% during trading on Friday . The stock traded as low as $36.55 and last traded at $36.58, with a volume of 132,637 shares traded. The stock had previously closed at $37.69.

Several research analysts recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $42.00 price objective on shares of Carpenter Technology Corp. in a research note on Friday, July 8th. Zacks Investment Research upgraded shares of Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Tuesday, August 16th. Finally, Sterne Agee CRT reiterated a “neutral” rating on shares of Carpenter Technology Corp. in a research note on Monday, May 16th.

The company has a market cap of $1.72 billion and a price-to-earnings ratio of 159.30. The stock’s 50-day moving average price is $37.72 and its 200 day moving average price is $33.72.

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

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

In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of Carpenter Technology Corp. stock in a transaction dated 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 completion of the sale, the director now directly owns 12,613 shares in the company, valued at C$489,132.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

An institutional investor recently raised its position in Carpenter Technology Corp. stock. Mutual of America Capital Management LLC raised its stake in shares of Carpenter Technology Corp. (NYSE:CRS) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,394 shares of the company’s stock after buying an additional 1,558 shares during the period. Mutual of America Capital Management LLC owned 0.07% of Carpenter Technology Corp. worth $1,041,000 at the end of the most recent reporting 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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