Carpenter Technology Corp. (NYSE:CRS) dropped 2% during trading on Tuesday . The company traded as low as $36.91 and last traded at $37.11, with a volume of 123,254 shares changing hands. The stock had previously closed at $37.88.

CRS has been the subject of a number of recent analyst reports. Zacks Investment Research raised Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 18th. Rosenblatt Securities reissued a “buy” rating and issued a $42.00 target price on shares of Carpenter Technology Corp. in a report on Tuesday, May 17th. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Carpenter Technology Corp. in a report on Monday, May 16th.

The stock has a market capitalization of $1.73 billion and a price-to-earnings ratio of 161.39. The firm’s 50-day moving average price is $38.07 and its 200 day moving average price is $34.32.

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

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.94%.

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

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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