Carpenter Technology Co. (NYSE:CRS) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 6.8% during the third quarter, Holdings Channel reports. The fund owned 64,163 shares of the basic materials company’s stock after purchasing an additional 4,094 shares during the quarter. New York State Teachers Retirement System’s holdings in Carpenter Technology were worth $10,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pathway Financial Advisers LLC increased its holdings in Carpenter Technology by 15,857.7% in the third quarter. Pathway Financial Advisers LLC now owns 23,777 shares of the basic materials company’s stock valued at $3,794,000 after buying an additional 23,628 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Carpenter Technology by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,968 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 457 shares during the last quarter. Cavalier Investments LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $2,499,000. Park Edge Advisors LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $237,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Carpenter Technology by 2.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,948 shares of the basic materials company’s stock worth $1,907,000 after acquiring an additional 319 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research lifted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Price Performance

NYSE:CRS opened at $155.36 on Monday. The stock has a market cap of $7.74 billion, a P/E ratio of 34.60, a PEG ratio of 0.75 and a beta of 1.46. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $166.67. The company has a fifty day moving average price of $151.78 and a 200 day moving average price of $126.33. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. Analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.