Carpenter Technology Co. (CRS) Shares Sold by King Luther Capital Management Corp
King Luther Capital Management Corp reduced its position in Carpenter Technology Co. (NYSE:CRS) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,590 shares of the basic materials company’s stock after selling 14,030 shares during the quarter. King Luther Capital Management Corp owned approximately 0.18% of Carpenter Technology worth $3,967,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Carpenter Technology by 103.1% during the third quarter. Victory Capital Management Inc. now owns 1,828,669 shares of the basic materials company’s stock valued at $87,831,000 after purchasing an additional 928,150 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Carpenter Technology during the third quarter valued at approximately $20,374,000. Emerald Advisers Inc. PA bought a new position in shares of Carpenter Technology during the third quarter valued at approximately $18,193,000. Frontier Capital Management Co. LLC grew its holdings in shares of Carpenter Technology 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 valued at $59,674,000 after purchasing an additional 347,965 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Carpenter Technology 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 valued at $61,809,000 after purchasing an additional 253,969 shares during the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.
CRS has been the subject of several recent research reports. Cowen reaffirmed a “hold” rating and set a $37.00 target price on shares of Carpenter Technology in a report on Thursday, October 19th. KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Finally, Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $48.17.
Shares of Carpenter Technology Co. (NYSE CRS) traded down $0.10 during midday trading on Thursday, hitting $50.21. The stock had a trading volume of 284,100 shares, compared to its average volume of 349,547. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91. The firm has a market capitalization of $2,355.34, a P/E ratio of 30.31 and a beta of 2.07. Carpenter Technology Co. has a fifty-two week low of $34.24 and a fifty-two week high of $51.88.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $448.46 million. Carpenter Technology had a return on equity of 6.67% and a net margin of 4.06%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. equities research analysts forecast that Carpenter Technology Co. will post 2.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. Carpenter Technology’s dividend payout ratio (DPR) is 44.44%.
In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.51% of the company’s stock.
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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