New York State Teachers Retirement System Has $15.49 Million Stock Holdings in Carpenter Technology Corporation $CRS

New York State Teachers Retirement System decreased its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,028 shares of the basic materials company’s stock after selling 1,679 shares during the period. New York State Teachers Retirement System owned 0.11% of Carpenter Technology worth $15,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Carpenter Technology by 37.1% during the 1st quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock worth $381,869,000 after purchasing an additional 570,441 shares during the last quarter. Egerton Capital UK LLP acquired a new position in shares of Carpenter Technology during the first quarter worth approximately $329,727,000. Advent International L.P. boosted its position in shares of Carpenter Technology by 12.1% in the first quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock valued at $145,819,000 after acquiring an additional 87,186 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Carpenter Technology by 4.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 619,157 shares of the basic materials company’s stock valued at $113,114,000 after acquiring an additional 27,123 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Carpenter Technology by 13.9% in the first quarter. American Century Companies Inc. now owns 588,889 shares of the basic materials company’s stock worth $106,695,000 after acquiring an additional 71,747 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRS has been the subject of a number of research reports. Zacks Research downgraded shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. BTIG Research reiterated a “buy” rating on shares of Carpenter Technology in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Carpenter Technology in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.33.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the transaction, the director owned 180,000 shares of the company’s stock, valued at approximately $44,240,400. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director I Martin Inglis sold 5,691 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $244.54, for a total value of $1,391,677.14. Following the completion of the sale, the director owned 6,732 shares of the company’s stock, valued at approximately $1,646,243.28. This trade represents a 45.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,124 shares of company stock worth $6,890,250. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Stock Performance

NYSE CRS opened at $238.04 on Friday. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $290.84. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37. The stock has a market cap of $11.87 billion, a P/E ratio of 32.08, a PEG ratio of 1.08 and a beta of 1.46. The company’s 50-day simple moving average is $244.05 and its 200 day simple moving average is $237.58.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $755.60 million for the quarter, compared to the consensus estimate of $790.73 million. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. As a group, research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Tuesday, October 21st will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $0.80 annualized dividend and a yield of 0.3%. Carpenter Technology’s payout ratio is presently 10.78%.

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.