Shares of Carpenter Technology Corp. (NYSE:CRS) gapped up prior to trading on Tuesday . The stock had previously closed at $37.08, but opened at $37.35. Carpenter Technology Corp. shares last traded at $37.80, with a volume of 90,645 shares traded.

A number of analysts have commented on CRS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $42.00 price objective on shares of Carpenter Technology Corp. in a research report on Tuesday, May 17th. Sterne Agee CRT reiterated a “neutral” rating on shares of Carpenter Technology Corp. in a research report on Monday, May 16th. Finally, Zacks Investment Research downgraded Carpenter Technology Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 19th.

The company has a 50-day moving average of $37.81 and a 200-day moving average of $33.95. The company has a market capitalization of $1.75 billion and a price-to-earnings ratio of 162.91.

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, beating analysts’ consensus estimates of $0.34 by $0.01. The company earned $457.70 million during the quarter, compared to analyst estimates of $454 million. During the same period in the prior year, the firm posted $0.52 EPS. Carpenter Technology Corp.’s revenue was down 18.0% compared to the same quarter last year. Analysts forecast 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. Investors of record on Tuesday, August 23rd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, August 19th.

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

A hedge fund recently raised its stake in Carpenter Technology Corp. stock. Dimensional Fund Advisors LP raised its position in Carpenter Technology Corp. (NYSE:CRS) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,118,121 shares of the company’s stock after buying an additional 392,393 shares during the period. Dimensional Fund Advisors LP owned about 4.52% of Carpenter Technology Corp. worth $64,117,000 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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