Carpenter Technology Co. (NYSE:CRS) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,062 shares of the basic materials company’s stock after selling 493 shares during the quarter. Amalgamated Bank’s holdings in Carpenter Technology were worth $1,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRS. Precision Wealth Strategies LLC acquired a new stake in shares of Carpenter Technology in the 4th quarter worth approximately $202,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Carpenter Technology in the fourth quarter worth approximately $216,000. Norges Bank bought a new position in Carpenter Technology during the 4th quarter valued at $22,901,000. Johnson Financial Group Inc. acquired a new position in shares of Carpenter Technology during the 4th quarter valued at $31,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Carpenter Technology in the 4th quarter worth $29,000. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

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

Carpenter Technology Stock Up 1.1 %

Shares of NYSE:CRS opened at $161.67 on Thursday. The firm has a 50 day simple moving average of $140.28 and a 200 day simple moving average of $109.96. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $161.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The company has a market cap of $8.08 billion, a PE ratio of 61.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.51 by $0.31. The business had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. Carpenter Technology’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, research analysts expect that Carpenter Technology Co. will post 6.09 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

Carpenter Technology 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.