Carpenter Technology Co. (NYSE:CRS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,207 shares of the basic materials company’s stock after selling 21,874 shares during the quarter. New York State Common Retirement Fund owned 0.19% of Carpenter Technology worth $16,327,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the 4th quarter worth about $25,000. UMB Bank n.a. increased its position in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology in the third quarter worth about $65,000. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology in the third quarter valued at $80,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the third quarter worth approximately $84,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of a number of recent research reports. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Trading Down 6.2 %

Shares of CRS stock opened at $195.21 on Monday. Carpenter Technology Co. has a 12-month low of $62.99 and a 12-month high of $213.65. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $9.75 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The firm has a 50 day moving average price of $188.87 and a two-hundred day moving average price of $170.62.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is presently 15.09%.

Carpenter Technology Company Profile

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.