ProShare Advisors LLC Has $610,000 Stake in Carpenter Technology Corporation $CRS

ProShare Advisors LLC lowered its holdings in Carpenter Technology Corporation (NYSE:CRS) by 82.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,206 shares of the basic materials company’s stock after selling 10,338 shares during the quarter. ProShare Advisors LLC’s holdings in Carpenter Technology were worth $610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRS. CWM LLC grew its holdings in shares of Carpenter Technology by 23.0% during the first quarter. CWM LLC now owns 2,130 shares of the basic materials company’s stock valued at $386,000 after buying an additional 398 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Carpenter Technology by 40.3% in the 1st quarter. Victory Capital Management Inc. now owns 22,408 shares of the basic materials company’s stock worth $4,060,000 after acquiring an additional 6,438 shares during the last quarter. IFP Advisors Inc lifted its position in Carpenter Technology by 1,121.7% in the 1st quarter. IFP Advisors Inc now owns 562 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 516 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Carpenter Technology by 10.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 22,704 shares of the basic materials company’s stock valued at $4,113,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Carpenter Technology by 149.4% during the 1st quarter. Allianz Asset Management GmbH now owns 115,753 shares of the basic materials company’s stock valued at $20,972,000 after purchasing an additional 69,336 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling at Carpenter Technology

In related news, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director directly owned 180,000 shares in the company, valued at approximately $44,240,400. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CRS has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a report on Thursday, October 30th. Jones Trading began coverage on shares of Carpenter Technology in a report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price for the company. Finally, Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.14.

Carpenter Technology Price Performance

NYSE CRS opened at $323.52 on Wednesday. The company has a market cap of $16.12 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $342.11. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $272.81 and its two-hundred day simple moving average is $258.85.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. The business had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. Carpenter Technology’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Research analysts predict that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is currently 9.78%.

About Carpenter Technology

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.