Zacks Investment Management raised its position in Carpenter Technology Corporation (NYSE:CRS) by 27.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,048 shares of the basic materials company’s stock after buying an additional 25,675 shares during the period. Zacks Investment Management owned about 0.25% of Carpenter Technology Corporation worth $4,419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its holdings in Carpenter Technology Corporation by 9.7% in the second quarter. Voya Investment Management LLC now owns 483,873 shares of the basic materials company’s stock valued at $18,112,000 after buying an additional 42,783 shares in the last quarter. Vanguard Group Inc. increased its holdings in Carpenter Technology Corporation by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,921,611 shares of the basic materials company’s stock valued at $146,786,000 after buying an additional 12,320 shares in the last quarter. Northern Trust Corp increased its holdings in Carpenter Technology Corporation by 1.6% in the second quarter. Northern Trust Corp now owns 1,072,901 shares of the basic materials company’s stock valued at $40,158,000 after buying an additional 16,916 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Carpenter Technology Corporation by 4.7% in the second quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock valued at $1,909,000 after buying an additional 2,299 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Carpenter Technology Corporation by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 148,895 shares of the basic materials company’s stock valued at $5,575,000 after buying an additional 390 shares in the last quarter. 92.81% of the stock is owned by institutional investors.

In other Carpenter Technology Corporation news, Director I Martin Inglis sold 8,000 shares of Carpenter Technology Corporation stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $318,160.00. Following the transaction, the director now 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 is available at this hyperlink. Also, Director Steven E. Karol sold 3,877 shares of Carpenter Technology Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $40.18, for a total value of $155,777.86. Following the transaction, the director now directly owns 230,418 shares in the company, valued at approximately $9,258,195.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,522 shares of company stock worth $1,065,580. Corporate insiders own 4.51% of the company’s stock.

A number of research firms have weighed in on CRS. Cowen and Company reaffirmed 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 lifted their price objective on shares of 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 shares of 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 shares of 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 assigned a buy rating to the company. Carpenter Technology Corporation presently has a consensus rating of “Buy” and a consensus target price of $43.50.

Carpenter Technology Corporation (NYSE CRS) traded down 0.432% on Thursday, reaching $47.285. 53,551 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $39.68 and a 200-day moving average price of $37.84. The company has a market capitalization of $2.21 billion, a P/E ratio of 47.763 and a beta of 2.09. Carpenter Technology Corporation has a 1-year low of $30.37 and a 1-year high of $47.58.

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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm had revenue of $507.70 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. Equities research analysts expect that Carpenter Technology Corporation will post $2.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.72 annualized dividend and a yield of 1.55%. Carpenter Technology Corporation’s payout ratio is presently 72.00%.

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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.

Institutional Ownership by Quarter for Carpenter Technology Corporation (NYSE:CRS)

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