Carpenter Technology Corporation (NYSE:CRS) – Investment analysts at Seaport Global Securities lifted their Q1 2018 earnings per share (EPS) estimates for shares of Carpenter Technology Corporation in a note issued to investors on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the basic materials company will post earnings of $0.43 per share for the quarter, up from their previous forecast of $0.41. Seaport Global Securities also issued estimates for Carpenter Technology Corporation’s Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.21 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.75 EPS, Q4 2019 earnings at $0.87 EPS and FY2019 earnings at $2.74 EPS.

Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS.

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Several other research analysts have also commented on the company. Longbow Research raised their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 28th. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, July 18th. Finally, Cowen and Company reissued a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Carpenter Technology Corporation has a consensus rating of “Buy” and a consensus target price of $45.50.

Carpenter Technology Corporation (CRS) traded down 0.28% during midday trading on Friday, hitting $49.95. The company had a trading volume of 79,583 shares. The stock has a 50 day moving average of $42.58 and a 200 day moving average of $38.76. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $50.84. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 50.45 and a beta of 2.10.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its position in shares of Carpenter Technology Corporation by 2,595.0% during the second quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 2,595 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Carpenter Technology Corporation by 64.5% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,097 shares during the last quarter. Dubuque Bank & Trust Co. increased its position in shares of Carpenter Technology Corporation by 3.0% during the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 107 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Carpenter Technology Corporation by 17.4% during the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 556 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Carpenter Technology Corporation by 1.8% during the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 92 shares during the last quarter. 92.81% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Jeffrey Wadsworth sold 4,000 shares of Carpenter Technology Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $40.25, for a total transaction of $161,000.00. Following the sale, the director now directly owns 4,200 shares of the company’s stock, valued at $169,050. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director I Martin Inglis sold 8,000 shares of Carpenter Technology Corporation stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $39.77, for a total value of $318,160.00. Following the sale, the director now directly owns 11,200 shares in the company, valued at $445,424. The disclosure for this sale can be found here. Insiders sold 26,522 shares of company stock worth $1,065,580 over the last three months. 4.51% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, August 18th. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.

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.

Earnings History and Estimates for Carpenter Technology Corporation (NYSE:CRS)

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