King Luther Capital Management Corp Has $3.97 Million Holdings in Carpenter Technology Co. (CRS)

King Luther Capital Management Corp cut its holdings in Carpenter Technology Co. (NYSE:CRS) by 14.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,590 shares of the basic materials company’s stock after selling 14,030 shares during the quarter. King Luther Capital Management Corp owned 0.18% of Carpenter Technology worth $3,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Carpenter Technology by 103.1% during the third quarter. Victory Capital Management Inc. now owns 1,828,669 shares of the basic materials company’s stock worth $87,831,000 after purchasing an additional 928,150 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Carpenter Technology in the third quarter valued at about $20,374,000. Emerald Advisers Inc. PA bought a new stake in shares of Carpenter Technology in the third quarter valued at about $18,193,000. Frontier Capital Management Co. LLC raised its holdings in shares of Carpenter Technology by 38.9% in the third quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock valued at $59,674,000 after acquiring an additional 347,965 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Carpenter Technology by 18.2% in the second quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock valued at $61,809,000 after acquiring an additional 253,969 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Carpenter Technology Co. (CRS) traded down $1.04 during trading on Friday, hitting $50.99. The company had a trading volume of 217,126 shares, compared to its average volume of 287,848. Carpenter Technology Co. has a 12-month low of $34.24 and a 12-month high of $53.61. The firm has a market capitalization of $2,390.00, a P/E ratio of 31.67 and a beta of 2.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million during the quarter, compared to the consensus estimate of $448.46 million. Carpenter Technology had a return on equity of 6.67% and a net margin of 4.06%. Carpenter Technology’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. analysts expect that Carpenter Technology Co. will post 2.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, October 23rd. Carpenter Technology’s payout ratio is 44.72%.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Cowen reiterated a “hold” rating and issued a $53.00 target price on shares of Carpenter Technology in a research note on Sunday, December 10th. Finally, KeyCorp restated a “hold” rating on shares of Carpenter Technology in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Carpenter Technology has a consensus rating of “Buy” and a consensus price target of $50.80.

In related news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.51% of the company’s stock.

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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.

Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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