Legal & General Group Plc Raises Position in Carpenter Technology Corporation (CRS)
Legal & General Group Plc boosted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,710 shares of the basic materials company’s stock after buying an additional 8,524 shares during the quarter. Legal & General Group Plc owned approximately 0.13% of Carpenter Technology Corporation worth $2,274,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in CRS. Huntington National Bank lifted its holdings in Carpenter Technology Corporation by 2,595.0% during the 2nd quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock worth $101,000 after buying an additional 2,595 shares during the period. Dubuque Bank & Trust Co. lifted its holdings in Carpenter Technology Corporation by 3.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after buying an additional 107 shares during the period. LS Investment Advisors LLC lifted its holdings in Carpenter Technology Corporation by 17.4% during the 2nd quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after buying an additional 556 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Carpenter Technology Corporation by 1.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after buying an additional 92 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Carpenter Technology Corporation during the 2nd quarter worth about $202,000. 92.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Jeffrey Wadsworth sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $40.25, for a total transaction of $161,000.00. Following the transaction, the director now directly owns 4,200 shares of the company’s stock, valued at $169,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. Karol sold 3,877 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $40.18, for a total value of $155,777.86. Following the transaction, the director now directly owns 230,418 shares in the company, valued at $9,258,195.24. The disclosure for this sale can be found here. Insiders have sold 26,522 shares of company stock worth $1,065,580 over the last ninety days. Insiders own 3.60% of the company’s stock.
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Several research analysts have commented on CRS shares. Zacks Investment Research downgraded Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Longbow Research lifted their target price on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $37.00 target price on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $43.50.
Carpenter Technology Corporation (NYSE:CRS) opened at 43.88 on Friday. The firm has a market capitalization of $2.05 billion, a P/E ratio of 44.32 and a beta of 2.09. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.34. The firm’s 50-day moving average price is $39.68 and its 200 day moving average price is $37.84.
Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The firm had revenue of $507.70 million for the quarter, compared to analysts’ expectations of $502.40 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Carpenter Technology Corporation will post $2.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. The ex-dividend date was Friday, August 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is currently 72.00%.
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.
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