Stevens Capital Management LP lifted its position in Carpenter Technology Co. (NYSE:CRS) by 19.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,595 shares of the basic materials company’s stock after acquiring an additional 2,370 shares during the period. Stevens Capital Management LP’s holdings in Carpenter Technology were worth $767,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRS. BlackRock Inc. grew its holdings in shares of Carpenter Technology by 1.3% during the first quarter. BlackRock Inc. now owns 5,017,316 shares of the basic materials company’s stock worth $221,364,000 after purchasing an additional 66,128 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Carpenter Technology by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,958,359 shares of the basic materials company’s stock valued at $174,643,000 after acquiring an additional 20,514 shares during the last quarter. Franklin Resources Inc. bought a new stake in Carpenter Technology in the first quarter valued at approximately $46,984,000. Northern Trust Corp boosted its holdings in Carpenter Technology by 0.7% in the first quarter. Northern Trust Corp now owns 1,060,838 shares of the basic materials company’s stock valued at $46,804,000 after acquiring an additional 7,840 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in Carpenter Technology by 9.9% in the first quarter. Federated Investors Inc. PA now owns 431,296 shares of the basic materials company’s stock valued at $19,029,000 after acquiring an additional 38,921 shares during the last quarter. 94.92% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CRS opened at $60.06 on Friday. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 24.02 and a beta of 1.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.35 and a current ratio of 3.24. Carpenter Technology Co. has a 52-week low of $38.38 and a 52-week high of $61.49.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, August 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $618.00 million for the quarter, compared to analyst estimates of $574.60 million. Carpenter Technology had a return on equity of 8.86% and a net margin of 8.74%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. analysts predict that Carpenter Technology Co. will post 3.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Tuesday, August 28th will be given a $0.20 dividend. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. Carpenter Technology’s payout ratio is presently 32.00%.

Several brokerages have issued reports on CRS. ValuEngine raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Zacks Investment Research upgraded Carpenter Technology from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Monday, August 6th. Longbow Research lowered Carpenter Technology from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Monday, June 25th. Finally, Cowen restated a “buy” rating and issued a $66.00 price target on shares of Carpenter Technology in a research note on Friday, June 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.75.

Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

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

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