OLD National Bancorp IN Decreases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

OLD National Bancorp IN trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 7.1% in the second quarter, HoldingsChannel.com reports. The fund owned 7,996 shares of the basic materials company’s stock after selling 610 shares during the period. OLD National Bancorp IN’s holdings in Carpenter Technology were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CRS. Dimensional Fund Advisors LP grew its holdings in Carpenter Technology by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,964,000 shares of the basic materials company’s stock valued at $141,159,000 after purchasing an additional 88,200 shares during the period. Frontier Capital Management Co. LLC grew its holdings in Carpenter Technology by 1.0% during the first quarter. Frontier Capital Management Co. LLC now owns 1,106,922 shares of the basic materials company’s stock valued at $50,752,000 after purchasing an additional 10,603 shares during the period. Victory Capital Management Inc. grew its holdings in Carpenter Technology by 1.4% during the first quarter. Victory Capital Management Inc. now owns 764,346 shares of the basic materials company’s stock valued at $35,045,000 after purchasing an additional 10,300 shares during the period. Norges Bank bought a new position in shares of Carpenter Technology in the fourth quarter worth $19,815,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Carpenter Technology by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 504,932 shares of the basic materials company’s stock worth $17,979,000 after acquiring an additional 47,895 shares during the period. 91.41% of the stock is owned by institutional investors.

Shares of Carpenter Technology stock traded up $1.69 during trading hours on Thursday, reaching $46.70. The company had a trading volume of 6,746 shares, compared to its average volume of 204,504. Carpenter Technology Co. has a one year low of $32.77 and a one year high of $60.78. The business has a fifty day moving average price of $46.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 2.53. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 18.66 and a beta of 2.45.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.06. Carpenter Technology had a return on equity of 9.93% and a net margin of 6.83%. The firm had revenue of $641.40 million during the quarter, compared to analyst estimates of $637.84 million. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that Carpenter Technology Co. will post 3.23 earnings per share for the current fiscal year.

CRS has been the subject of a number of analyst reports. Longbow Research set a $59.00 price target on Carpenter Technology and gave the stock a “buy” rating in a report on Friday, June 14th. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, June 19th. Finally, ValuEngine lowered Carpenter Technology from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Carpenter Technology has a consensus rating of “Hold” and an average target price of $52.50.

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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