Carpenter Technology Co. (CRS) Shares Sold by Foundry Partners LLC

Foundry Partners LLC trimmed its stake in Carpenter Technology Co. (NYSE:CRS) by 24.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,075 shares of the basic materials company’s stock after selling 1,950 shares during the quarter. Foundry Partners LLC’s holdings in Carpenter Technology were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CRS. Arizona State Retirement System increased its holdings in Carpenter Technology by 2.8% in the second quarter. Arizona State Retirement System now owns 32,582 shares of the basic materials company’s stock worth $1,713,000 after buying an additional 884 shares during the last quarter. Legal & General Group Plc increased its holdings in Carpenter Technology by 1.7% in the first quarter. Legal & General Group Plc now owns 63,529 shares of the basic materials company’s stock worth $2,803,000 after buying an additional 1,051 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Carpenter Technology by 3.2% in the second quarter. Mutual of America Capital Management LLC now owns 40,231 shares of the basic materials company’s stock worth $2,115,000 after buying an additional 1,266 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in Carpenter Technology by 4.4% in the third quarter. Essex Investment Management Co. LLC now owns 31,374 shares of the basic materials company’s stock worth $1,849,000 after buying an additional 1,329 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Carpenter Technology by 153.9% in the first quarter. Citigroup Inc. now owns 2,511 shares of the basic materials company’s stock worth $110,000 after buying an additional 1,522 shares during the last quarter. 94.39% of the stock is owned by institutional investors and hedge funds.

Shares of CRS stock opened at $53.18 on Tuesday. Carpenter Technology Co. has a 12 month low of $41.75 and a 12 month high of $61.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.35 and a current ratio of 3.24. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 20.99 and a beta of 2.05.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. Carpenter Technology had a return on equity of 8.86% and a net margin of 8.74%. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $574.60 million. During the same quarter last year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Carpenter Technology Co. will post 3.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Tuesday, October 23rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 22nd. This represents a $0.80 annualized dividend and a yield of 1.50%. Carpenter Technology’s dividend payout ratio (DPR) is presently 32.00%.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Carpenter Technology from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Monday, August 6th. Longbow Research downgraded Carpenter Technology from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Monday, June 25th. Finally, ValuEngine downgraded Carpenter Technology from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Carpenter Technology currently has an average rating of “Hold” and a consensus target price of $57.75.

About Carpenter Technology

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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