California Public Employees Retirement System Sells 4,700 Shares of Carpenter Technology Corporation (NYSE:CRS)

California Public Employees Retirement System lowered its stake in Carpenter Technology Corporation (NYSE:CRS) by 3.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 120,500 shares of the basic materials company’s stock after selling 4,700 shares during the period. California Public Employees Retirement System owned approximately 0.26% of Carpenter Technology Corporation worth $4,495,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CRS. Norges Bank purchased a new stake in Carpenter Technology Corporation during the fourth quarter worth $34,577,000. Peregrine Capital Management LLC bought a new stake in Carpenter Technology Corporation during the first quarter worth approximately $19,053,000. Deprince Race & Zollo Inc. boosted its stake in Carpenter Technology Corporation by 41.8% in the first quarter. Deprince Race & Zollo Inc. now owns 898,268 shares of the basic materials company’s stock worth $33,505,000 after buying an additional 264,658 shares during the period. Tributary Capital Management LLC boosted its stake in Carpenter Technology Corporation by 43.1% in the first quarter. Tributary Capital Management LLC now owns 232,654 shares of the basic materials company’s stock worth $8,678,000 after buying an additional 70,090 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Carpenter Technology Corporation by 14.7% in the first quarter. Russell Investments Group Ltd. now owns 456,877 shares of the basic materials company’s stock worth $17,041,000 after buying an additional 58,669 shares during the period. Institutional investors own 94.95% of the company’s stock.

Shares of Carpenter Technology Corporation (NYSE CRS) traded down 2.20% during midday trading on Tuesday, reaching $39.15. 647,351 shares of the company’s stock traded hands. The stock’s 50 day moving average is $37.80 and its 200-day moving average is $38.09. The company has a market capitalization of $1.84 billion, a PE ratio of 39.55 and a beta of 2.08. Carpenter Technology Corporation has a 52 week low of $30.37 and a 52 week high of $45.33.

Carpenter Technology Corporation (NYSE:CRS) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The firm had revenue of $507.70 million during the quarter, compared to the consensus estimate of $502.40 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts forecast that Carpenter Technology Corporation will post $2.16 earnings per share for the current fiscal year.

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A number of analysts recently commented on the stock. Cowen and Company reiterated a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Longbow Research raised their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Carpenter Technology Corporation has an average rating of “Buy” and an average price target of $43.50.

Carpenter Technology Corporation Company Profile

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

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

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