Gotham Asset Management LLC reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 44.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 29,123 shares of the basic materials company’s stock after selling 23,030 shares during the period. Gotham Asset Management LLC owned approximately 0.06% of Carpenter Technology worth $1,198,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brandywine Global Investment Management LLC acquired a new stake in Carpenter Technology during the 1st quarter worth about $4,840,000. Geode Capital Management LLC grew its position in Carpenter Technology by 9.2% during the 1st quarter. Geode Capital Management LLC now owns 767,417 shares of the basic materials company’s stock worth $31,579,000 after purchasing an additional 64,604 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Carpenter Technology by 19.4% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 13,600 shares of the basic materials company’s stock worth $396,000 after acquiring an additional 2,213 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Carpenter Technology by 27.7% during the 1st quarter. Van ECK Associates Corp now owns 36,893 shares of the basic materials company’s stock worth $1,518,000 after acquiring an additional 7,995 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in shares of Carpenter Technology during the 1st quarter worth about $459,000. 89.94% of the stock is currently owned by institutional investors.
Separately, JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research note on Wednesday, June 16th. They set a “neutral” rating and a $49.00 target price on the stock.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, April 29th. The basic materials company reported ($0.54) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.03. The firm had revenue of $351.90 million for the quarter, compared to analyst estimates of $368.53 million. Carpenter Technology had a negative net margin of 19.51% and a negative return on equity of 7.06%. Carpenter Technology’s quarterly revenue was down 39.9% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. Sell-side analysts forecast that Carpenter Technology Co. will post -2.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Tuesday, May 4th were paid a $0.20 dividend. The ex-dividend date was Monday, May 3rd. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. Carpenter Technology’s dividend payout ratio (DPR) is currently 36.20%.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company 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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