Teacher Retirement System of Texas Has $3.16 Million Stock Holdings in Carpenter Technology Corporation $CRS

Teacher Retirement System of Texas lifted its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 8.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,436 shares of the basic materials company’s stock after buying an additional 912 shares during the period. Teacher Retirement System of Texas’ holdings in Carpenter Technology were worth $3,161,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of CRS. Invesco Ltd. raised its stake in Carpenter Technology by 37.1% during the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock worth $381,869,000 after acquiring an additional 570,441 shares in the last quarter. Egerton Capital UK LLP acquired a new stake in shares of Carpenter Technology in the 1st quarter valued at approximately $329,727,000. Advent International L.P. grew its holdings in shares of Carpenter Technology by 12.1% during the 1st quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock valued at $145,819,000 after purchasing an additional 87,186 shares during the last quarter. American Century Companies Inc. increased its position in Carpenter Technology by 13.9% during the 1st quarter. American Century Companies Inc. now owns 588,889 shares of the basic materials company’s stock worth $106,695,000 after purchasing an additional 71,747 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in Carpenter Technology by 79.2% during the 1st quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock worth $103,806,000 after purchasing an additional 253,163 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRS shares. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. BTIG Research boosted their price objective on Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research note on Thursday. Finally, Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $369.67.

Carpenter Technology Stock Down 0.9%

Shares of CRS opened at $316.03 on Friday. The stock’s 50-day moving average price is $253.60 and its two-hundred day moving average price is $247.15. Carpenter Technology Corporation has a 12 month low of $138.61 and a 12 month high of $330.50. The company has a market capitalization of $15.74 billion, a PE ratio of 38.63, a PEG ratio of 1.41 and a beta of 1.46. The company has a current ratio of 4.44, a quick ratio of 2.37 and a debt-to-equity ratio of 0.36.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.30. The company had revenue of $733.70 million during the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 earnings per share. On average, analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is currently 9.78%.

Insider Transactions at Carpenter Technology

In related news, Director Steven E. Karol sold 3,433 shares of Carpenter Technology stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares of the company’s stock, valued at $44,240,400. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony R. Thene sold 19,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the sale, the chief executive officer directly owned 535,019 shares in the company, valued at $131,074,304.81. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,124 shares of company stock worth $6,890,250 over the last three months. 2.90% of the stock is owned by company insiders.

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.