ING Groep NV bought a new stake in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,686 shares of the basic materials company’s stock, valued at approximately $213,000.

Other hedge funds have also recently modified their holdings of the company. Netols Asset Management Inc. raised its stake in shares of Carpenter Technology Corporation by 14.2% in the first quarter. Netols Asset Management Inc. now owns 135,417 shares of the basic materials company’s stock valued at $5,051,000 after buying an additional 16,839 shares in the last quarter. FMR LLC raised its stake in shares of Carpenter Technology Corporation by 0.5% in the first quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock valued at $176,019,000 after buying an additional 21,800 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Carpenter Technology Corporation by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,923 shares of the basic materials company’s stock valued at $220,000 after buying an additional 1,028 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in shares of Carpenter Technology Corporation during the first quarter valued at about $2,686,000. Finally, Invictus RG raised its stake in shares of Carpenter Technology Corporation by 231.6% in the first quarter. Invictus RG now owns 13,014 shares of the basic materials company’s stock valued at $485,000 after buying an additional 9,089 shares in the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Shares of Carpenter Technology Corporation (CRS) traded down 1.30% during mid-day trading on Friday, reaching $37.90. The company’s stock had a trading volume of 473,840 shares. The stock has a market capitalization of $1.79 billion, a P/E ratio of 38.28 and a beta of 2.08. The company’s 50-day moving average price is $38.33 and its 200-day moving average price is $38.16. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $45.34.

Carpenter Technology Corporation (NYSE:CRS) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. The firm had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, equities research analysts forecast that Carpenter Technology Corporation will post $2.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, August 18th. Carpenter Technology Corporation’s dividend payout ratio (DPR) is 72.00%.

COPYRIGHT VIOLATION WARNING: “5,686 Shares in Carpenter Technology Corporation (CRS) Acquired by ING Groep NV” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/13/5686-shares-in-carpenter-technology-corporation-crs-acquired-by-ing-groep-nv.html.

Several analysts have issued reports on CRS shares. Zacks Investment Research lowered Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a research note on Thursday, April 27th. Finally, Longbow Research upped their target price on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $43.50.

In other news, Director Steven E. Karol sold 3,877 shares of Carpenter Technology Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $40.18, for a total value of $155,777.86. Following the completion of the transaction, the director now owns 230,418 shares in the company, valued at approximately $9,258,195.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders bought 294,000 shares of company stock valued at $21,490. Company insiders own 3.60% of the company’s stock.

Carpenter Technology Corporation Company Profile

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.

Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Corporation (NYSE:CRS).

Institutional Ownership by Quarter for Carpenter Technology Corporation (NYSE:CRS)

Receive News & Ratings for Carpenter Technology Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology Corporation and related companies with MarketBeat.com's FREE daily email newsletter.