Royal Bank of Canada Has $340,000 Position in Carpenter Technology Corporation (CRS)
Royal Bank of Canada trimmed its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,088 shares of the basic materials company’s stock after selling 135 shares during the quarter. Royal Bank of Canada’s holdings in Carpenter Technology Corporation were worth $340,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Bank of New York Mellon Corp grew its stake in Carpenter Technology Corporation by 18.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock worth $61,809,000 after purchasing an additional 253,969 shares in the last quarter. Vanguard Group Inc. grew its stake in Carpenter Technology Corporation by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 3,909,291 shares of the basic materials company’s stock worth $145,817,000 after purchasing an additional 223,197 shares in the last quarter. Royce & Associates LP grew its stake in Carpenter Technology Corporation by 18.6% during the 2nd quarter. Royce & Associates LP now owns 774,024 shares of the basic materials company’s stock worth $28,972,000 after purchasing an additional 121,300 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Carpenter Technology Corporation by 13.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 680,756 shares of the basic materials company’s stock worth $25,480,000 after buying an additional 80,077 shares during the last quarter. Finally, New Amsterdam Partners LLC NY purchased a new stake in Carpenter Technology Corporation during the 2nd quarter worth about $2,625,000. 97.62% of the stock is owned by hedge funds and other institutional investors.
Shares of Carpenter Technology Corporation (CRS) opened at $45.79 on Friday. Carpenter Technology Corporation has a fifty-two week low of $34.24 and a fifty-two week high of $51.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98. The firm has a market capitalization of $2,140.00, a PE ratio of 27.32 and a beta of 2.09.
Carpenter Technology Corporation (NYSE:CRS) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $448.46 million. During the same period in the previous year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. analysts anticipate that Carpenter Technology Corporation will post 2.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio is presently 44.72%.
In other Carpenter Technology Corporation news, Director I Martin Inglis sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $318,160.00. Following the completion of the sale, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $445,424. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $40.25, for a total value of $161,000.00. Following the sale, the director now directly owns 4,200 shares of the company’s stock, valued at $169,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,645 shares of company stock valued at $909,803. 4.51% of the stock is owned by company insiders.
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CRS has been the subject of a number of recent analyst reports. Cowen and Company lifted their price target on Carpenter Technology Corporation from $37.00 to $53.00 in a report on Thursday, October 26th. Longbow Research lifted their price target on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Tuesday, October 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology Corporation in a report on Wednesday, October 11th. 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 presently has an average rating of “Buy” and an average price target of $48.17.
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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