Nationwide Fund Advisors Raises Holdings in Carpenter Technology Co. (CRS)

Nationwide Fund Advisors raised its stake in Carpenter Technology Co. (NYSE:CRS) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,476 shares of the basic materials company’s stock after purchasing an additional 23,047 shares during the period. Nationwide Fund Advisors owned approximately 0.30% of Carpenter Technology worth $6,699,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CRS. Vanguard Group Inc. increased its position in shares of Carpenter Technology by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,921,611 shares of the basic materials company’s stock worth $146,786,000 after purchasing an additional 12,320 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Carpenter Technology by 18.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock worth $61,809,000 after purchasing an additional 253,969 shares in the last quarter. Northern Trust Corp increased its position in shares of Carpenter Technology by 1.6% during the 2nd quarter. Northern Trust Corp now owns 1,072,901 shares of the basic materials company’s stock worth $40,158,000 after purchasing an additional 16,916 shares in the last quarter. Royce & Associates LP increased its position in shares of Carpenter Technology by 18.6% during the 2nd quarter. Royce & Associates LP now owns 774,024 shares of the basic materials company’s stock worth $28,972,000 after purchasing an additional 121,300 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Carpenter Technology by 13.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 680,756 shares of the basic materials company’s stock worth $25,480,000 after purchasing an additional 80,077 shares in the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Joseph E. Haniford sold 11,448 shares of Carpenter Technology stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.51% of the company’s stock.

Shares of Carpenter Technology Co. (CRS) opened at $50.65 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98. The firm has a market cap of $2,413.86, a PE ratio of 31.06 and a beta of 2.07. Carpenter Technology Co. has a 1 year low of $34.24 and a 1 year high of $52.21.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $479.80 million during the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) EPS. equities research analysts forecast that Carpenter Technology Co. will post 2.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, October 23rd. Carpenter Technology’s payout ratio is presently 44.44%.

A number of equities research analysts recently issued reports on CRS shares. Cowen increased their target price on shares of Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, October 3rd. Finally, KeyCorp restated a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Carpenter Technology presently has a consensus rating of “Buy” and a consensus price target of $48.17.

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Carpenter Technology 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.

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

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