William Blair Investment Management LLC Purchases 5,886 Shares of Carpenter Technology Corporation (CRS)
William Blair Investment Management LLC boosted its position in Carpenter Technology Corporation (NYSE:CRS) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,934 shares of the basic materials company’s stock after buying an additional 5,886 shares during the period. William Blair Investment Management LLC owned approximately 0.76% of Carpenter Technology Corporation worth $13,435,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Morningstar Investment Services LLC increased its position in 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 worth $301,000 after buying an additional 32 shares during the period. Granite Investment Partners LLC increased its position in 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 worth $682,000 after buying an additional 75 shares during the period. Public Employees Retirement System of Ohio increased its position in 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 worth $196,000 after buying an additional 92 shares during the period. Elkfork Partners LLC increased its position in 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 worth $119,000 after buying an additional 102 shares during the period. Finally, Dubuque Bank & Trust Co. increased its position in 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 worth $138,000 after buying an additional 107 shares during the period. 95.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Carpenter Technology Corporation (NYSE CRS) opened at 40.08 on Friday. The stock has a 50 day moving average price of $38.76 and a 200 day moving average price of $37.99. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $45.34. The firm has a market cap of $1.87 billion, a P/E ratio of 40.48 and a beta of 2.08.
Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The company had revenue of $507.70 million during the quarter, compared to analyst estimates of $502.40 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts expect that Carpenter Technology Corporation will post $2.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, August 18th. This represents a $0.72 annualized dividend and a yield of 1.80%. Carpenter Technology Corporation’s dividend payout ratio is 72.00%.
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Several research firms have recently commented on CRS. Cowen and Company reissued a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Longbow Research increased their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, July 18th. Finally, TheStreet raised 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 three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $43.50.
In other Carpenter Technology Corporation news, Director Steven E. Karol sold 3,877 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now directly owns 230,418 shares in the company, valued at approximately $9,258,195.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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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