Canada Pension Plan Investment Board Lowers Position in Carpenter Technology Corporation (CRS)

Canada Pension Plan Investment Board lowered its position in Carpenter Technology Corporation (NYSE:CRS) by 19.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,200 shares of the basic materials company’s stock after selling 31,100 shares during the period. Canada Pension Plan Investment Board owned approximately 0.28% of Carpenter Technology Corporation worth $6,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Carpenter Technology Corporation by 2,595.0% in the 2nd quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 2,595 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of Carpenter Technology Corporation by 64.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,097 shares during the period. Dubuque Bank & Trust Co. grew its holdings in shares of Carpenter Technology Corporation by 3.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 107 shares during the period. LS Investment Advisors LLC grew its holdings in shares of Carpenter Technology Corporation by 17.4% in the 2nd quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 556 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Carpenter Technology Corporation by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 97.62% of the company’s stock.

A number of research firms recently weighed in on CRS. KeyCorp restated a “hold” rating on shares of Carpenter Technology Corporation in a report on Wednesday, October 11th. Zacks Investment Research upgraded Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday, October 3rd. Longbow Research upped 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. Cowen and Company restated a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Finally, TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. 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 stock has an average rating of “Buy” and a consensus target price of $48.17.

Shares of Carpenter Technology Corporation (NYSE CRS) opened at $46.24 on Tuesday. The company has a market capitalization of $2,160.00, a price-to-earnings ratio of 28.07 and a beta of 2.09. The company has a current ratio of 2.91, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. Carpenter Technology Corporation has a fifty-two week low of $34.24 and a fifty-two week high of $51.88.

Carpenter Technology Corporation (NYSE:CRS) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology Corporation had a return on equity of 6.67% and a net margin of 4.06%. Carpenter Technology Corporation’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. equities research analysts forecast that Carpenter Technology Corporation will post 2.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio (DPR) is 44.72%.

In other news, Director Jeffrey Wadsworth sold 4,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $40.25, for a total transaction of $161,000.00. Following the sale, the director now owns 4,200 shares in the company, valued at $169,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director I Martin Inglis sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total value of $318,160.00. Following the sale, the director now owns 11,200 shares in the company, valued at approximately $445,424. The disclosure for this sale can be found here. Insiders have sold 22,645 shares of company stock worth $909,803 in the last 90 days. Insiders own 4.51% of the company’s stock.

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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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