FDx Advisors Inc. Has $415,000 Position in Carpenter Technology Corporation (CRS)
FDx Advisors Inc. lowered its position in Carpenter Technology Corporation (NYSE:CRS) by 65.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,647 shares of the basic materials company’s stock after selling 16,399 shares during the quarter. FDx Advisors Inc.’s holdings in Carpenter Technology Corporation were worth $415,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Monarch Partners Asset Management LLC purchased a new stake in shares of Carpenter Technology Corporation in the third quarter valued at about $4,832,000. Meridian Wealth Management LLC purchased a new stake in shares of Carpenter Technology Corporation in the third quarter valued at about $450,000. Frontier Capital Management Co. LLC grew its holdings in shares of Carpenter Technology Corporation by 38.9% in the third quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock valued at $59,674,000 after purchasing an additional 347,965 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of Carpenter Technology Corporation in the third quarter valued at about $214,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Carpenter Technology Corporation in the third quarter valued at about $11,277,000. 93.65% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Corporation (CRS) opened at $45.79 on Monday. Carpenter Technology Corporation has a 1 year low of $34.24 and a 1 year high of $51.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98. The company has a market cap of $2,143.73, a PE ratio of 27.58 and a beta of 2.09.
Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The business had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology Corporation had a net margin of 4.06% and a return on equity of 6.67%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share. equities research analysts forecast that Carpenter Technology Corporation will post 2.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.57%. Carpenter Technology Corporation’s dividend payout ratio is presently 44.44%.
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A number of research analysts have commented on CRS shares. KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology Corporation in a research report on Thursday. Zacks Investment Research cut shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Longbow Research upped their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a research report on Thursday, October 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.17.
In related news, Director Jeffrey Wadsworth sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $40.25, for a total value of $161,000.00. Following the sale, the director now owns 4,200 shares of the company’s stock, valued at $169,050. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director I Martin Inglis sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $318,160.00. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at approximately $445,424. The disclosure for this sale can be found here. Insiders have sold 22,645 shares of company stock worth $909,803 in the last three months. Corporate insiders own 4.51% of the company’s stock.
About Carpenter Technology Corporation
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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