California State Teachers Retirement System lowered its holdings in Carpenter Technology Corporation (NYSE:CRS) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,196 shares of the basic materials company’s stock after selling 8,900 shares during the period. California State Teachers Retirement System owned 0.17% of Carpenter Technology Corporation worth $3,077,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Carpenter Technology Corporation by 10.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,634 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 702 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Carpenter Technology Corporation by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 103,256 shares of the basic materials company’s stock valued at $3,864,000 after purchasing an additional 1,317 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Carpenter Technology Corporation by 13,752.0% in the second quarter. Cubist Systematic Strategies LLC now owns 13,852 shares of the basic materials company’s stock valued at $518,000 after purchasing an additional 13,752 shares during the period. Macquarie Group Ltd. grew its position in shares of Carpenter Technology Corporation by 0.8% in the second quarter. Macquarie Group Ltd. now owns 40,881 shares of the basic materials company’s stock valued at $1,530,000 after purchasing an additional 311 shares during the period. Finally, Petrus Trust Company LTA purchased a new stake in shares of Carpenter Technology Corporation in the second quarter valued at $298,000. 97.68% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on CRS shares. Cowen and Company reissued a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Zacks Investment Research raised 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. Longbow Research boosted their price target on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 28th. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Finally, KeyCorp reissued a “hold” rating on shares of Carpenter Technology Corporation in a research report on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $48.17.

Shares of Carpenter Technology Corporation (CRS) opened at $48.82 on Thursday. Carpenter Technology Corporation has a 1 year low of $31.70 and a 1 year high of $51.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91. The stock has a market capitalization of $2,286.52, a PE ratio of 29.42 and a beta of 2.09.

Carpenter Technology Corporation (NYSE:CRS) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Carpenter Technology Corporation had a return on equity of 6.67% and a net margin of 4.06%. The company had revenue of $479.80 million during the quarter, compared to the consensus estimate of $448.46 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. equities research analysts forecast that Carpenter Technology Corporation will post 2.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s payout ratio is 44.44%.

In other news, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $40.25, for a total value of $161,000.00. Following the completion of the sale, the director now owns 4,200 shares of the company’s stock, valued at $169,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven E. Karol sold 2,645 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $40.50, for a total value of $107,122.50. Following the completion of the sale, the director now directly owns 230,418 shares of the company’s stock, valued at approximately $9,331,929. The disclosure for this sale can be found here. Insiders sold 22,645 shares of company stock valued at $909,803 in the last ninety days. Company insiders own 4.51% of the company’s stock.

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Carpenter Technology Corporation 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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