Voya Investment Management LLC Trims Stake in Carpenter Technology Co. (NYSE:CRS)

Voya Investment Management LLC reduced its stake in Carpenter Technology Co. (NYSE:CRS) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,341 shares of the basic materials company’s stock after selling 57,802 shares during the period. Voya Investment Management LLC owned 0.94% of Carpenter Technology worth $23,096,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its holdings in Carpenter Technology by 153.9% in the first quarter. Citigroup Inc. now owns 2,511 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 1,522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Carpenter Technology by 42.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 1,042 shares during the last quarter. Zeke Capital Advisors LLC purchased a new position in shares of Carpenter Technology during the 2nd quarter worth $213,000. Park National Corp OH purchased a new position in shares of Carpenter Technology during the 2nd quarter worth $214,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Carpenter Technology during the 2nd quarter worth $222,000. 94.83% of the stock is owned by institutional investors.

Shares of NYSE CRS opened at $59.03 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.35 and a current ratio of 3.24. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 23.61 and a beta of 2.05. Carpenter Technology Co. has a 52-week low of $41.75 and a 52-week high of $61.49.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $574.60 million. Carpenter Technology had a net margin of 8.74% and a return on equity of 8.86%. Carpenter Technology’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities analysts forecast that Carpenter Technology Co. will post 3.58 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Longbow Research cut shares of Carpenter Technology from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Monday, June 25th. Finally, Zacks Investment Research upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Monday, August 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.75.

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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