Boston Partners trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 57,980 shares of the basic materials company’s stock after selling 1,621 shares during the period. Boston Partners’ holdings in Carpenter Technology were worth $2,957,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CRS. Ladenburg Thalmann Financial Services Inc. increased its holdings in Carpenter Technology by 90.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 1,529 shares in the last quarter. Turner Investments LLC acquired a new stake in Carpenter Technology during the 3rd quarter valued at $192,000. Public Employees Retirement System of Ohio boosted its position in Carpenter Technology by 7.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after buying an additional 370 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in Carpenter Technology in the 3rd quarter valued at $214,000. Finally, Wrapmanager Inc. bought a new position in Carpenter Technology in the 3rd quarter valued at $216,000. 94.64% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Joseph E. Haniford sold 11,448 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.51% of the stock is owned by company insiders.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. The firm had revenue of $487.80 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. equities research analysts predict that Carpenter Technology Co. will post 2.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 6th will be given a $0.18 dividend. The ex-dividend date is Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. Carpenter Technology’s payout ratio is 21.30%.
A number of research analysts have commented on the company. Zacks Investment Research lowered Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Finally, Cowen reiterated a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology in a research report on Thursday, October 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $52.25.
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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