Granite Investment Partners LLC lifted its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 698.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,498 shares of the basic materials company’s stock after acquiring an additional 127,268 shares during the quarter. Granite Investment Partners LLC owned 0.31% of Carpenter Technology Corporation worth $6,988,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Carpenter Technology Corporation by 103.1% during the third quarter. Victory Capital Management Inc. now owns 1,828,669 shares of the basic materials company’s stock worth $87,831,000 after buying an additional 928,150 shares during the period. Rice Hall James & Associates LLC acquired a new position in Carpenter Technology Corporation during the third quarter worth about $20,374,000. Emerald Advisers Inc. PA acquired a new position in Carpenter Technology Corporation during the third quarter worth about $18,193,000. Frontier Capital Management Co. LLC grew its position in Carpenter Technology Corporation by 38.9% during the third quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock worth $59,674,000 after buying an additional 347,965 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Carpenter Technology Corporation by 18.2% during the second quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock worth $61,809,000 after buying an additional 253,969 shares during the period. Institutional investors and hedge funds own 93.65% of the company’s stock.

In other Carpenter Technology Corporation news, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director I Martin Inglis sold 8,000 shares of the company’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 transaction, 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 sold 22,645 shares of company stock worth $909,803 in the last ninety days. Insiders own 4.51% of the company’s stock.

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Shares of Carpenter Technology Corporation (CRS) traded up $0.96 during midday trading on Tuesday, hitting $46.75. 293,400 shares of the company’s stock traded hands, compared to its average volume of 353,946. Carpenter Technology Corporation has a 12 month low of $34.24 and a 12 month high of $51.88. The stock has a market capitalization of $2,143.73, a P/E ratio of 27.58 and a beta of 2.09. The company has a quick ratio of 0.98, a current ratio of 2.91 and a debt-to-equity ratio of 0.45.

Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Carpenter Technology Corporation had a net margin of 4.06% and a return on equity of 6.67%. The company had revenue of $479.80 million for the quarter, compared to the consensus estimate of $448.46 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. equities research analysts expect that Carpenter Technology Corporation will post 2.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 44.44%.

Several research analysts have weighed in on the stock. KeyCorp restated a “hold” rating on shares of Carpenter Technology Corporation in a research report on Thursday, November 16th. Zacks Investment Research lowered shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. TheStreet upgraded 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 stock a “buy” rating in a research report on Friday, July 28th. Finally, Cowen and Company restated a “hold” rating and set a $37.00 target price on shares of Carpenter Technology Corporation in a research report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $48.17.

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

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