Credit Suisse AG reduced its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 20.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 48,316 shares of the basic materials company’s stock after selling 12,405 shares during the period. Credit Suisse AG’s holdings in Carpenter Technology Corporation were worth $1,802,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Carpenter Technology Corporation by 17,365.7% in the first quarter. BlackRock Inc. now owns 5,071,683 shares of the basic materials company’s stock valued at $189,174,000 after buying an additional 5,042,645 shares during the period. FMR LLC boosted its position in Carpenter Technology Corporation by 0.5% in the first quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock valued at $176,019,000 after buying an additional 21,800 shares during the period. Dimensional Fund Advisors LP boosted its position in Carpenter Technology Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,926,931 shares of the basic materials company’s stock valued at $146,473,000 after buying an additional 206,068 shares during the period. Vanguard Group Inc. boosted its position in Carpenter Technology Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 3,909,291 shares of the basic materials company’s stock valued at $145,817,000 after buying an additional 223,197 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Carpenter Technology Corporation by 3.2% in the first quarter. Victory Capital Management Inc. now owns 1,089,525 shares of the basic materials company’s stock valued at $40,639,000 after buying an additional 33,372 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Corporation (NYSE:CRS) traded down 1.471% during trading on Friday, hitting $37.835. The stock had a trading volume of 101,327 shares. Carpenter Technology Corporation has a 12 month low of $30.37 and a 12 month high of $45.34. The firm has a 50 day moving average of $38.29 and a 200-day moving average of $38.16. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 38.217 and a beta of 2.08.

Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $507.70 million for the quarter, compared to analyst estimates of $502.40 million. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Equities analysts predict that Carpenter Technology Corporation will post $2.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, August 18th. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.

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Several equities analysts recently issued reports on CRS shares. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, July 18th. Cowen and Company reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a research report on Thursday, April 27th. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Finally, Longbow Research upped their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.50.

In other news, Director Steven E. Karol sold 3,877 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now directly owns 230,418 shares of the company’s stock, valued at $9,258,195.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 294,000 shares of company stock worth $21,490 over the last three months. Corporate insiders own 3.60% 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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Institutional Ownership by Quarter for Carpenter Technology Corporation (NYSE:CRS)

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