Carpenter Technology Co. (NYSE:CRS) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,822 shares of the basic materials company’s stock after selling 2,473 shares during the period. Teacher Retirement System of Texas’ holdings in Carpenter Technology were worth $3,534,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC raised its position in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after buying an additional 1,108,963 shares during the period. Geode Capital Management LLC increased its stake in Carpenter Technology by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after acquiring an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Carpenter Technology by 428.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after purchasing an additional 479,985 shares during the period. Finally, Avala Global LP increased its position in Carpenter Technology by 21.0% during the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 6.5 %

Shares of CRS opened at $195.68 on Tuesday. The company has a market capitalization of $9.77 billion, a P/E ratio of 36.92, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The stock has a 50-day moving average price of $195.00 and a 200 day moving average price of $177.84. Carpenter Technology Co. has a one year low of $67.52 and a one year high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

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

Carpenter Technology 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.