LS Investment Advisors LLC boosted its stake in Carpenter Technology Corporation (NYSE:CRS) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,746 shares of the basic materials company’s stock after buying an additional 556 shares during the period. LS Investment Advisors LLC’s holdings in Carpenter Technology Corporation were worth $140,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CRS. BlackRock Inc. raised its stake in shares of 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. Deprince Race & Zollo Inc. raised its stake in shares of Carpenter Technology Corporation by 41.8% in the first quarter. Deprince Race & Zollo Inc. now owns 898,268 shares of the basic materials company’s stock valued at $33,505,000 after buying an additional 264,658 shares during the period. Vanguard Group Inc. raised its stake in shares of 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. Dimensional Fund Advisors LP raised its stake in shares of 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. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of Carpenter Technology Corporation during the first quarter valued at $2,686,000. 94.95% of the stock is owned by institutional investors.

Carpenter Technology Corporation (CRS) traded down 0.555% on Thursday, reaching $38.505. The company’s stock had a trading volume of 94,034 shares. The stock has a market cap of $1.81 billion, a P/E ratio of 38.894 and a beta of 2.08. The stock has a 50-day moving average of $38.21 and a 200-day moving average of $38.16. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.34.

Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $507.70 million during 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 quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, analysts predict that Carpenter Technology Corporation will post $2.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, August 18th. Carpenter Technology Corporation’s payout ratio is 72.00%.

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Several equities research analysts recently weighed in on CRS shares. Cowen and Company reissued a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Thursday, April 27th. Zacks Investment Research lowered Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Finally, Longbow Research lifted their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock 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. The company has a consensus rating of “Buy” and an average target price of $43.50.

In related news, Director Steven E. Karol sold 3,877 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the completion of the sale, the director now owns 230,418 shares in the company, valued at $9,258,195.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders acquired 294,000 shares of company stock valued at $21,490. Company 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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