Augustine Asset Management Inc. continued to hold its stake in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,600 shares of the basic materials company’s stock at the end of the second quarter. Augustine Asset Management Inc.’s holdings in Carpenter Technology Corporation were worth $247,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CRS. Elkfork Partners LLC increased its stake 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 valued at $119,000 after buying an additional 102 shares in the last quarter. Dubuque Bank & Trust Co. acquired a new stake in Carpenter Technology Corporation during the first quarter valued at about $134,000. LS Investment Advisors LLC increased its stake in Carpenter Technology Corporation by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after buying an additional 556 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake 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 valued at $196,000 after buying an additional 92 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Carpenter Technology Corporation during the second quarter valued at about $202,000. Institutional investors own 94.95% of the company’s stock.
Shares of Carpenter Technology Corporation (CRS) traded down 1.30% during midday trading on Friday, hitting $37.90. The stock had a trading volume of 473,840 shares. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $45.33. The firm has a market cap of $1.79 billion, a PE ratio of 38.28 and a beta of 2.08. The firm has a 50-day moving average of $38.33 and a 200 day moving average of $38.16.
Carpenter Technology Corporation (NYSE:CRS) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. During the same period in the prior year, the firm posted $0.35 EPS. Carpenter Technology Corporation’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that Carpenter Technology Corporation will post $2.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.90%. Carpenter Technology Corporation’s payout ratio is presently 72.00%.
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Several research firms have issued reports on CRS. Zacks Investment Research downgraded Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 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. TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Finally, Cowen and Company reiterated a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $43.50.
In other news, Director Steven E. Karol sold 3,877 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $40.18, for a total value of $155,777.86. Following the completion of the transaction, the director now directly owns 230,418 shares of the company’s stock, valued at approximately $9,258,195.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders bought 294,000 shares of company stock valued at $21,490. 3.60% of the stock is currently owned by insiders.
Carpenter Technology Corporation 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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