Arizona State Retirement System Increases Position in Carpenter Technology Co. (NYSE:CRS)

Arizona State Retirement System grew its holdings in Carpenter Technology Co. (NYSE:CRS) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,772 shares of the basic materials company’s stock after buying an additional 202 shares during the period. Arizona State Retirement System’s holdings in Carpenter Technology were worth $2,337,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CRS. M&T Bank Corp purchased a new position in Carpenter Technology during the fourth quarter worth about $252,000. Cookson Peirce & Co. Inc. raised its holdings in Carpenter Technology by 56.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,062 shares of the basic materials company’s stock worth $1,029,000 after purchasing an additional 2,185 shares in the last quarter. State of Michigan Retirement System purchased a new position in Carpenter Technology during the fourth quarter worth about $2,003,000. Jones Financial Companies Lllp raised its holdings in Carpenter Technology by 43.7% during the fourth quarter. Jones Financial Companies Lllp now owns 829 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 252 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Carpenter Technology by 160.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 767 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 472 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Carpenter Technology Trading Down 4.6 %

Shares of Carpenter Technology stock opened at $172.05 on Tuesday. Carpenter Technology Co. has a 12-month low of $63.58 and a 12-month high of $213.66. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market cap of $8.59 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a 50-day moving average of $194.14 and a two-hundred day moving average of $174.57.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, research analysts anticipate 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 given a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

About Carpenter Technology

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.