UBS Asset Management Americas Inc. lessened its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 3.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 28,092 shares of the basic materials company’s stock after selling 1,001 shares during the period. UBS Asset Management Americas Inc. owned 0.06% of Carpenter Technology Corporation worth $1,051,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Carpenter Technology Corporation by 2,595.0% during the second quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 2,595 shares during the period. Riverhead Capital Management LLC grew its holdings in Carpenter Technology Corporation by 64.5% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 1,097 shares during the period. Dubuque Bank & Trust Co. grew its holdings in Carpenter Technology Corporation by 3.0% during the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 107 shares during the period. LS Investment Advisors LLC grew its holdings in Carpenter Technology Corporation by 17.4% during the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 556 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Carpenter Technology Corporation by 1.8% during the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after purchasing an additional 92 shares during the period. 92.81% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. KeyCorp reissued a “hold” rating on shares of Carpenter Technology Corporation in a report on Wednesday, October 11th. 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. Longbow Research boosted their price target on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th. Cowen and Company reissued a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a report on Monday, July 17th. 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 four have given a buy rating to the stock. Carpenter Technology Corporation has a consensus rating of “Buy” and an average price target of $45.50.

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 completion of the transaction, the director now owns 11,200 shares in the company, valued at approximately $445,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Wadsworth sold 4,000 shares of Carpenter Technology Corporation stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $40.25, for a total value of $161,000.00. Following the transaction, the director now owns 4,200 shares of the company’s stock, valued at approximately $169,050. The disclosure for this sale can be found here. Insiders have sold a total of 26,522 shares of company stock valued at $1,065,580 in the last quarter. Company insiders own 4.51% of the company’s stock.

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Shares of Carpenter Technology Corporation (CRS) opened at 50.09 on Monday. The firm’s 50-day moving average price is $45.82 and its 200 day moving average price is $39.78. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 50.60 and a beta of 2.10. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $50.98.

Carpenter Technology Corporation (NYSE:CRS) last released 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. The business had revenue of $507.70 million during the quarter, compared to analyst estimates of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, analysts predict that Carpenter Technology Corporation will post $2.24 earnings per share for the current 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. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. Carpenter Technology Corporation’s payout ratio is currently 72.00%.

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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