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

Teacher Retirement System of Texas trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 10.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,822 shares of the basic materials company’s stock after selling 2,473 shares during the quarter. Teacher Retirement System of Texas’ holdings in Carpenter Technology were worth $3,534,000 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 the stock. Charles Schwab Investment Management Inc. raised its position in shares of Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after buying an additional 103,559 shares in the last quarter. Citigroup Inc. increased its stake in shares of Carpenter Technology by 76.8% during the third quarter. Citigroup Inc. now owns 63,137 shares of the basic materials company’s stock valued at $10,075,000 after acquiring an additional 27,418 shares during the period. Cerity Partners LLC bought a new stake in Carpenter Technology during the third quarter worth approximately $540,000. Fisher Asset Management LLC lifted its position in Carpenter Technology by 3.9% in the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its stake in Carpenter Technology by 12,878.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,321 shares of the basic materials company’s stock valued at $850,000 after purchasing an additional 5,280 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company 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 equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $195.68 on Tuesday. Carpenter Technology Co. has a 1-year low of $67.52 and a 1-year high of $213.66. The firm has a fifty day simple moving average of $195.00 and a 200-day simple moving average of $177.84. 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 capitalization of $9.77 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

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

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.