Comerica Bank raised its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,540 shares of the basic materials company’s stock after buying an additional 1,836 shares during the quarter. Comerica Bank owned about 0.24% of Carpenter Technology Corporation worth $5,468,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRS. Huntington National Bank grew its position in shares of Carpenter Technology Corporation by 2,595.0% in the 2nd quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 2,595 shares during the period. Riverhead Capital Management LLC lifted its stake in Carpenter Technology Corporation by 64.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 1,097 shares in the last quarter. LS Investment Advisors LLC lifted its stake in Carpenter Technology Corporation by 17.4% in the 2nd quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 556 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Carpenter Technology Corporation by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 92 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Carpenter Technology Corporation in the 2nd quarter valued at approximately $202,000. Institutional investors own 93.65% of the company’s stock.

In other Carpenter Technology Corporation news, Director Steven E. Karol sold 2,645 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $40.50, for a total value of $107,122.50. Following the transaction, the director now directly owns 230,418 shares of the company’s stock, valued at approximately $9,331,929. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director I Martin Inglis sold 8,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $39.77, for a total value of $318,160.00. Following the completion of the transaction, the director now directly owns 11,200 shares in the company, valued at $445,424. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,645 shares of company stock worth $909,803. 4.51% of the stock is owned by company insiders.

Shares of Carpenter Technology Corporation (NYSE CRS) opened at $48.02 on Wednesday. Carpenter Technology Corporation has a 12 month low of $34.24 and a 12 month high of $51.88. The company has a quick ratio of 0.98, a current ratio of 2.91 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2,188.68, a price-to-earnings ratio of 28.16 and a beta of 2.09.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 44.44%.

CRS has been the topic of several research reports. Zacks Investment Research cut Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Cowen and Company upped their price objective on Carpenter Technology Corporation from $37.00 to $53.00 in a research note on Thursday, October 26th. TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. KeyCorp reiterated a “hold” rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Finally, Longbow Research upped their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Carpenter Technology Corporation has a consensus rating of “Buy” and a consensus price target of $48.17.

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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.

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

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