JPMorgan Chase & Co. raised its stake in Carpenter Technology Corporation (NYSE:CRS) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 573,376 shares of the basic materials company’s stock after purchasing an additional 66,712 shares during the period. JPMorgan Chase & Co. owned 1.22% of Carpenter Technology Corporation worth $21,461,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Morningstar Investment Services LLC increased its holdings in shares of Carpenter Technology Corporation by 0.4% in the second quarter. Morningstar Investment Services LLC now owns 8,041 shares of the basic materials company’s stock valued at $301,000 after purchasing an additional 32 shares during the last quarter. Granite Investment Partners LLC increased its holdings in shares of Carpenter Technology Corporation by 0.4% in the second quarter. Granite Investment Partners LLC now owns 18,230 shares of the basic materials company’s stock valued at $682,000 after purchasing an additional 75 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Carpenter Technology Corporation by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after purchasing an additional 92 shares during the last quarter. Elkfork Partners LLC increased its holdings in shares of Carpenter Technology Corporation by 3.3% in the first quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 102 shares during the last quarter. Finally, Dubuque Bank & Trust Co. increased its holdings in shares of Carpenter Technology Corporation by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 92.81% of the company’s stock.

Several equities analysts have commented on CRS shares. Zacks Investment Research upgraded shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, July 18th. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Cowen and Company reiterated a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Finally, Longbow Research upped their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $43.50.

Carpenter Technology Corporation (CRS) opened at 44.75 on Thursday. The company has a 50 day moving average of $39.68 and a 200 day moving average of $37.84. The firm has a market capitalization of $2.09 billion, a P/E ratio of 45.20 and a beta of 2.09. Carpenter Technology Corporation has a 1-year low of $30.37 and a 1-year high of $45.34.

Carpenter Technology Corporation (NYSE:CRS) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. The company had revenue of $507.70 million for the quarter, compared to analysts’ expectations of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Carpenter Technology Corporation will post $2.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, August 18th. Carpenter Technology Corporation’s payout ratio is 72.00%.

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In other news, Director Steven E. Karol sold 2,645 shares of Carpenter Technology Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $40.50, for a total transaction of $107,122.50. Following the sale, the director now directly owns 230,418 shares in the company, valued at approximately $9,331,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert R. Mcmaster sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $40.44, for a total value of $323,520.00. Following the completion of the sale, the director now owns 9,200 shares in the company, valued at $372,048. The disclosure for this sale can be found here. Insiders have sold a total of 26,522 shares of company stock worth $1,065,580 over the last quarter. Company insiders own 3.60% of the company’s stock.

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

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