Karp Capital Management Corp Purchases New Position in Carpenter Technology Corporation (CRS)

Karp Capital Management Corp purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) during the first quarter, Holdings Channel reports. The institutional investor purchased 20,437 shares of the basic materials company’s stock, valued at approximately $762,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Carpenter Technology Corporation during the fourth quarter valued at $34,577,000. Comerica Bank increased its position in shares of Carpenter Technology Corporation by 179.6% in the fourth quarter. Comerica Bank now owns 98,501 shares of the basic materials company’s stock valued at $3,787,000 after buying an additional 63,276 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Carpenter Technology Corporation during the fourth quarter valued at $14,679,000. Augustine Asset Management Inc. acquired a new position in shares of Carpenter Technology Corporation during the first quarter valued at $246,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Carpenter Technology Corporation by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 62,870 shares of the basic materials company’s stock valued at $2,274,000 after buying an additional 750 shares during the period. Institutional investors own 94.96% of the company’s stock.

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

Shares of Carpenter Technology Corporation (CRS) opened at 36.00 on Friday. Carpenter Technology Corporation has a 52 week low of $29.92 and a 52 week high of $45.33. The stock’s 50 day moving average is $37.26 and its 200-day moving average is $38.01. The firm has a market cap of $1.68 billion, a PE ratio of 46.94 and a beta of 2.08.

Carpenter Technology Corporation (NYSE:CRS) last released its earnings results on Thursday, April 27th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.12. The business had revenue of $473.60 million for the quarter, compared to analyst estimates of $478.80 million. Carpenter Technology Corporation had a return on equity of 3.57% and a net margin of 2.08%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share. On average, equities analysts predict that Carpenter Technology Corporation will post $0.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Tuesday, May 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, April 28th. Carpenter Technology Corporation’s payout ratio is currently 92.31%.

WARNING: “Karp Capital Management Corp Purchases New Position in Carpenter Technology Corporation (CRS)” was first reported by sleekmoney and is the property of of sleekmoney. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://sleekmoney.com/karp-capital-management-corp-purchases-new-position-in-carpenter-technology-corporation-crs/1917127.html.

CRS has been the topic of several research reports. Longbow Research initiated coverage on shares of Carpenter Technology Corporation in a report on Tuesday, March 21st. They issued a “buy” rating and a $48.00 price target on the stock. Seaport Global Securities upgraded shares of Carpenter Technology Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, March 16th. Zacks Investment Research upgraded shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Wednesday, April 5th. Finally, Cowen and Company reiterated a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology Corporation in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $42.83.

About Carpenter Technology Corporation

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.

Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Corporation (NYSE:CRS).

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/karp-capital-management-corp-purchases-new-position-in-carpenter-technology-corporation-crs/1917127.html

Receive News & Ratings for Carpenter Technology Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *