OLD National Bancorp IN boosted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 115.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,584 shares of the basic materials company’s stock after acquiring an additional 9,410 shares during the period. OLD National Bancorp IN’s holdings in Carpenter Technology were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CRS. Huntington National Bank lifted its holdings in Carpenter Technology by 1,902.0% during the fourth quarter. Huntington National Bank now owns 2,002 shares of the basic materials company’s stock worth $102,000 after buying an additional 1,902 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Carpenter Technology by 90.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after buying an additional 1,529 shares during the period. Turner Investments LLC purchased a new stake in Carpenter Technology during the third quarter worth $192,000. Public Employees Retirement System of Ohio lifted its holdings in Carpenter Technology by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock worth $210,000 after buying an additional 370 shares during the period. Finally, Tocqueville Asset Management L.P. purchased a new stake in Carpenter Technology during the third quarter worth $214,000. Institutional investors own 94.64% of the company’s stock.

A number of analysts have weighed in on CRS shares. Cowen upped their target price on Carpenter Technology from $37.00 to $53.00 in a report on Thursday, October 26th. Zacks Investment Research lowered Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, KeyCorp restated a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.25.

Carpenter Technology Co. (NYSE CRS) opened at $49.41 on Wednesday. The stock has a market capitalization of $2,284.36, a price-to-earnings ratio of 23.64 and a beta of 2.05. The company has a current ratio of 2.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. Carpenter Technology Co. has a 12-month low of $34.24 and a 12-month high of $54.61.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $487.80 million for the quarter, compared to the consensus estimate of $482.20 million. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. equities research analysts anticipate that Carpenter Technology Co. will post 2.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, February 5th. Carpenter Technology’s payout ratio is presently 21.24%.

In other news, COO Joseph E. Haniford sold 11,448 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.51% of the company’s stock.

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

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