Tower Research Capital LLC TRC Boosts Stock Position in Carpenter Technology Co. (NYSE:CRS)

Tower Research Capital LLC TRC lifted its holdings in Carpenter Technology Co. (NYSE:CRS) by 3,506.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,807 shares of the basic materials company’s stock after purchasing an additional 5,646 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Carpenter Technology were worth $279,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Carpenter Technology by 16.7% in the first quarter. SG Americas Securities LLC now owns 3,592 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 515 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Carpenter Technology in the second quarter valued at $203,000. First Mercantile Trust Co. grew its holdings in shares of Carpenter Technology by 36.6% in the second quarter. First Mercantile Trust Co. now owns 4,285 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 1,147 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Carpenter Technology in the first quarter valued at $237,000. Finally, MainStreet Investment Advisors LLC bought a new stake in Carpenter Technology in the second quarter worth $292,000. 92.22% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Steven E. Karol sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director now directly owns 230,543 shares in the company, valued at $12,679,865. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by company insiders.

A number of analysts recently issued reports on the company. ValuEngine upgraded Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Longbow Research set a $59.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, Zacks Investment Research upgraded Carpenter Technology from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, June 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $52.50.

CRS traded down $0.71 during trading on Friday, reaching $53.74. The company had a trading volume of 554,205 shares, compared to its average volume of 284,362. The stock has a market cap of $2.59 billion, a P/E ratio of 16.59 and a beta of 2.40. The business has a 50 day simple moving average of $48.56 and a 200-day simple moving average of $47.09. Carpenter Technology Co. has a 52 week low of $32.77 and a 52 week high of $60.38. The company has a quick ratio of 1.08, a current ratio of 2.97 and a debt-to-equity ratio of 0.36.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $641.40 million during the quarter, compared to the consensus estimate of $637.84 million. Carpenter Technology had a return on equity of 10.33% and a net margin of 7.02%. Carpenter Technology’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. As a group, equities research analysts expect that Carpenter Technology Co. will post 3.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. Carpenter Technology’s dividend payout ratio is presently 23.12%.

Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It 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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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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