Chicago Equity Partners LLC Acquires Shares of 27,920 Carpenter Technology Co. (CRS)
Chicago Equity Partners LLC acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 27,920 shares of the basic materials company’s stock, valued at approximately $1,424,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of CRS. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Carpenter Technology by 90.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 1,529 shares during the period. Turner Investments LLC purchased a new stake in shares of Carpenter Technology during the third quarter valued at approximately $192,000. Public Employees Retirement System of Ohio raised its stake in shares of Carpenter Technology by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 370 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of Carpenter Technology during the third quarter valued at approximately $214,000. Finally, Wrapmanager Inc. purchased a new stake in shares of Carpenter Technology during the third quarter valued at approximately $216,000. Institutional investors own 94.67% of the company’s stock.
In other news, COO Joseph E. Haniford sold 11,448 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.51% of the stock is currently owned by company insiders.
Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Carpenter Technology had a net margin of 8.30% and a return on equity of 7.94%. The business had revenue of $487.80 million during the quarter, compared to the consensus estimate of $482.20 million. During the same quarter last year, the company earned $0.15 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. research analysts expect that Carpenter Technology Co. will post 2.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, February 5th. Carpenter Technology’s payout ratio is currently 21.24%.
A number of research firms have recently issued reports on CRS. Zacks Investment Research upgraded shares of Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Thursday, January 18th. Cowen reiterated a “hold” rating and set a $53.00 price objective on shares of Carpenter Technology in a research note on Sunday, December 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a research note on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.25.
Carpenter Technology 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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