Carpenter Technology Corporation (NYSE:CRS)‘s stock had its “hold” rating reiterated by stock analysts at KeyCorp in a research report issued on Wednesday.

CRS has been the topic of several other research reports. Zacks Investment Research downgraded Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Longbow Research increased their price target on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Cowen and Company reissued a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $45.50.

Shares of Carpenter Technology Corporation (NYSE CRS) traded up 0.55% during mid-day trading on Wednesday, hitting $49.57. The stock had a trading volume of 220,740 shares. The stock has a market capitalization of $2.32 billion, a P/E ratio of 50.07 and a beta of 2.10. Carpenter Technology Corporation has a 52 week low of $30.37 and a 52 week high of $50.84. The stock has a 50 day moving average of $43.87 and a 200-day moving average of $39.14.

Carpenter Technology Corporation (NYSE:CRS) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The company had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts predict that Carpenter Technology Corporation will post $2.27 earnings per share for the current year.

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In related news, Director I Martin Inglis sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $318,160.00. Following the sale, the director now owns 11,200 shares of the company’s stock, valued at $445,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven E. Karol sold 2,645 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $40.50, for a total value of $107,122.50. Following the sale, the director now directly owns 230,418 shares in the company, valued at approximately $9,331,929. The disclosure for this sale can be found here. Insiders have sold 26,522 shares of company stock worth $1,065,580 in the last three months. 4.51% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of CRS. BlackRock Inc. boosted its holdings in shares of Carpenter Technology Corporation by 17,365.7% in the 1st quarter. BlackRock Inc. now owns 5,071,683 shares of the basic materials company’s stock valued at $189,174,000 after purchasing an additional 5,042,645 shares in the last quarter. FMR LLC boosted its holdings in shares of Carpenter Technology Corporation by 0.5% in the 1st quarter. FMR LLC now owns 4,719,016 shares of the basic materials company’s stock valued at $176,019,000 after purchasing an additional 21,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Carpenter Technology Corporation by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,926,931 shares of the basic materials company’s stock valued at $146,473,000 after purchasing an additional 206,068 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Carpenter Technology Corporation by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,921,611 shares of the basic materials company’s stock valued at $146,786,000 after purchasing an additional 12,320 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Carpenter Technology Corporation by 18.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock valued at $61,809,000 after purchasing an additional 253,969 shares in the last quarter. 92.81% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Carpenter Technology Corporation (NYSE:CRS)

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