Van ECK Associates Corp Sells 2,911 Shares of Carpenter Technology Co. (NYSE:CRS)

Van ECK Associates Corp lessened its holdings in Carpenter Technology Co. (NYSE:CRSGet Rating) by 5.8% during the third quarter, reports. The fund owned 47,531 shares of the basic materials company’s stock after selling 2,911 shares during the period. Van ECK Associates Corp’s holdings in Carpenter Technology were worth $1,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in shares of Carpenter Technology during the first quarter valued at about $26,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Carpenter Technology during the third quarter valued at about $31,000. Captrust Financial Advisors boosted its stake in shares of Carpenter Technology by 57.8% during the first quarter. Captrust Financial Advisors now owns 3,704 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 1,356 shares in the last quarter. Alan B. Lancz & Associates Inc. acquired a new stake in shares of Carpenter Technology during the second quarter valued at about $125,000. Finally, KBC Group NV acquired a new stake in shares of Carpenter Technology during the second quarter valued at about $122,000. Institutional investors own 92.28% of the company’s stock.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $44.60 on Friday. The stock’s 50 day moving average is $39.80 and its 200 day moving average is $35.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.80 and a quick ratio of 1.30. The firm has a market cap of $2.16 billion, a P/E ratio of -51.86 and a beta of 1.69. Carpenter Technology Co. has a one year low of $24.76 and a one year high of $44.97.

Carpenter Technology (NYSE:CRSGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The basic materials company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $522.90 million for the quarter, compared to analyst estimates of $558.00 million. Carpenter Technology had a negative return on equity of 3.35% and a negative net margin of 2.09%. As a group, research analysts expect that Carpenter Technology Co. will post 1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, lowered Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th.

About Carpenter Technology

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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.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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