Chesapeake Capital Corp IL Sells 4,838 Shares of Carpenter Technology Co. (NYSE:CRS)

Chesapeake Capital Corp IL trimmed its holdings in Carpenter Technology Co. (NYSE:CRS) by 50.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,672 shares of the basic materials company’s stock after selling 4,838 shares during the period. Chesapeake Capital Corp IL’s holdings in Carpenter Technology were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in CRS. Horan Capital Advisors LLC. acquired a new position in Carpenter Technology in the 2nd quarter valued at about $208,000. Quest Partners LLC boosted its position in shares of Carpenter Technology by 217.1% in the second quarter. Quest Partners LLC now owns 2,156 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 1,476 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Carpenter Technology in the second quarter valued at about $1,690,000. Savant Capital LLC increased its position in Carpenter Technology by 6.5% during the second quarter. Savant Capital LLC now owns 4,911 shares of the basic materials company’s stock worth $538,000 after acquiring an additional 298 shares during the period. Finally, Arizona State Retirement System increased its position in Carpenter Technology by 2.1% during the second quarter. Arizona State Retirement System now owns 13,833 shares of the basic materials company’s stock worth $1,516,000 after acquiring an additional 282 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on CRS shares. Northcoast Research reissued a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a research note on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target for the company. TD Cowen raised their price objective on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BTIG Research upped their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Benchmark raised their price target on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Trading Up 3.7 %

NYSE CRS opened at $137.07 on Tuesday. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 52.12, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $148.94. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average is $131.24 and its 200 day moving average is $103.30.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s payout ratio is 30.42%.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. 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 additives, and metal powders and parts.