South Dakota Investment Council Has $421,000 Position in Carpenter Technology Corporation (CRS)
South Dakota Investment Council continued to hold its stake in Carpenter Technology Corporation (NYSE:CRS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,300 shares of the basic materials company’s stock at the end of the first quarter. South Dakota Investment Council’s holdings in Carpenter Technology Corporation were worth $421,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Elkfork Partners LLC bought a new stake in Carpenter Technology Corporation during the fourth quarter worth about $112,000. Dubuque Bank & Trust Co. bought a new stake in Carpenter Technology Corporation during the first quarter worth about $134,000. Capstone Asset Management Co. bought a new stake in Carpenter Technology Corporation during the first quarter worth about $209,000. Stevens Capital Management LP bought a new stake in Carpenter Technology Corporation during the first quarter worth about $215,000. Finally, Envestnet Asset Management Inc. boosted its stake in Carpenter Technology Corporation by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,923 shares of the basic materials company’s stock worth $220,000 after buying an additional 1,028 shares during the last quarter. Institutional investors own 94.96% of the company’s stock.
Carpenter Technology Corporation (NYSE CRS) traded down 2.09% during midday trading on Friday, reaching $36.00. The company’s stock had a trading volume of 665,016 shares. Carpenter Technology Corporation has a 1-year low of $29.92 and a 1-year high of $45.34. The firm has a market capitalization of $1.68 billion, a PE ratio of 46.94 and a beta of 2.08. The firm has a 50 day moving average price of $37.26 and a 200 day moving average price of $38.01.
Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.12. The firm had revenue of $473.60 million for the quarter, compared to analysts’ expectations of $478.80 million. Carpenter Technology Corporation had a return on equity of 3.57% and a net margin of 2.08%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. On average, analysts predict that Carpenter Technology Corporation will post $0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Tuesday, May 2nd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, April 28th. Carpenter Technology Corporation’s payout ratio is presently 92.31%.
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A number of equities research analysts have issued reports on the company. Cowen and Company reiterated a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a research note on Thursday, April 27th. Seaport Global Securities upgraded Carpenter Technology Corporation from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, March 16th. Longbow Research assumed coverage on Carpenter Technology Corporation in a research note on Tuesday, March 21st. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Zacks Investment Research upgraded Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, April 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.83.
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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