Northwestern Mutual Investment Management Company LLC decreased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,429 shares of the basic materials company’s stock after selling 525 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Carpenter Technology were worth $386,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Mason Street Advisors LLC grew its position in shares of Carpenter Technology by 1.5% in the first quarter. Mason Street Advisors LLC now owns 25,195 shares of the basic materials company’s stock valued at $1,155,000 after purchasing an additional 383 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Carpenter Technology by 2.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,709 shares of the basic materials company’s stock worth $666,000 after buying an additional 414 shares in the last quarter. Arizona State Retirement System grew its holdings in Carpenter Technology by 1.3% in the 4th quarter. Arizona State Retirement System now owns 33,999 shares of the basic materials company’s stock worth $1,211,000 after buying an additional 442 shares in the last quarter. SG Americas Securities LLC grew its holdings in Carpenter Technology by 16.7% in the 1st quarter. SG Americas Securities LLC now owns 3,592 shares of the basic materials company’s stock worth $165,000 after buying an additional 515 shares in the last quarter. Finally, Comerica Bank grew its holdings in Carpenter Technology by 2.0% in the 4th quarter. Comerica Bank now owns 30,774 shares of the basic materials company’s stock worth $1,336,000 after buying an additional 610 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.
CRS has been the subject of a number of recent analyst reports. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, April 9th. ValuEngine downgraded Carpenter Technology from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.50.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $609.90 million during the quarter, compared to analysts’ expectations of $585.08 million. Carpenter Technology had a net margin of 6.83% and a return on equity of 9.93%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. Research analysts forecast that Carpenter Technology Co. will post 3.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Monday, April 29th. Carpenter Technology’s dividend payout ratio is 32.00%.
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Carpenter Technology 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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