Rhumbline Advisers has increased its stake in Carpenter Technology Co. by 1.9% in the third quarter, according to a recent filing. The fund now owns 170,797 shares of the company’s stock. Other large investors, such as JPMorgan Chase & Co. and Raymond James Financial Services Advisors Inc., have also added to their holdings in Carpenter Technology. The stock of Carpenter Technology opened at $64.46 on Friday, down 0.7%. The company recently announced earnings results that met the consensus estimate and also declared a quarterly dividend. Carpenter Technology Corporation specializes in the manufacture, fabrication, and distribution of specialty metals globally.
In the first quarter, JPMorgan Chase & Co. increased its holdings in Carpenter Technology by 168.6%, while Raymond James Financial Services Advisors Inc. raised its position by 11.3%. Private Advisor Group LLC and Citigroup Inc. also added to their stakes in Carpenter Technology during the same period.
Shares of Carpenter Technology Co. opened at $64.46 on Friday. The company has a 52-week low of $38.24 and a 52-week high of $74.06. Carpenter Technology last announced its earnings results on Thursday, January 25th, reporting $0.85 earnings per share for the quarter. The firm also declared a quarterly dividend to be paid on March 7th. Analysts predict that Carpenter Technology Co. will post 4 EPS for the current year. Hedge funds and other institutional investors hold a significant portion of the company’s stock, with 91.86% ownership.
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