Essex Investment Management Co. LLC boosted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 29.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,755 shares of the basic materials company’s stock after buying an additional 8,950 shares during the period. Essex Investment Management Co. LLC owned approximately 0.09% of Carpenter Technology Corporation worth $1,488,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Carpenter Technology Corporation by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after buying an additional 92 shares during the last quarter. Elkfork Partners LLC boosted its stake in shares of Carpenter Technology Corporation by 3.3% in the first quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock valued at $119,000 after buying an additional 102 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Carpenter Technology Corporation by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock valued at $138,000 after buying an additional 107 shares during the last quarter. Advantus Capital Management Inc boosted its stake in shares of Carpenter Technology Corporation by 3.3% in the first quarter. Advantus Capital Management Inc now owns 5,982 shares of the basic materials company’s stock valued at $223,000 after buying an additional 189 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Carpenter Technology Corporation by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,273 shares of the basic materials company’s stock valued at $607,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Shares of Carpenter Technology Corporation (NYSE:CRS) traded down 1.30% during mid-day trading on Friday, hitting $37.90. The stock had a trading volume of 473,840 shares. The firm has a 50 day moving average of $38.33 and a 200 day moving average of $38.16. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 38.28 and a beta of 2.08. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.34.

Carpenter Technology Corporation (NYSE:CRS) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, analysts forecast that Carpenter Technology Corporation will post $2.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, August 18th. Carpenter Technology Corporation’s payout ratio is 72.00%.

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Several brokerages have issued reports on CRS. Cowen and Company restated a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Longbow Research increased their price target on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, July 18th. Finally, TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $43.50.

In other Carpenter Technology Corporation news, Director Steven E. Karol sold 3,877 shares of Carpenter Technology Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now directly owns 230,418 shares of the company’s stock, valued at $9,258,195.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 294,000 shares of company stock worth $21,490 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Carpenter Technology Corporation 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 Corporation (NYSE:CRS)

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