Teachers Retirement System of The State of Kentucky Trims Position in Carpenter Technology Corporation $CRS

Teachers Retirement System of The State of Kentucky lowered its holdings in Carpenter Technology Corporation (NYSE:CRS) by 22.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,729 shares of the basic materials company’s stock after selling 4,453 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Carpenter Technology were worth $3,862,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRS. Woodline Partners LP acquired a new position in shares of Carpenter Technology during the 1st quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after purchasing an additional 1,701 shares during the period. Focus Partners Wealth increased its position in Carpenter Technology by 7.3% during the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock worth $836,000 after purchasing an additional 314 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Carpenter Technology by 8.3% during the second quarter. Envestnet Asset Management Inc. now owns 18,133 shares of the basic materials company’s stock worth $5,012,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Carpenter Technology by 1,657.9% during the second quarter. Hantz Financial Services Inc. now owns 334 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 315 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CRS. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $388.00 to $394.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, BTIG Research boosted their target price on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $385.50.

Carpenter Technology Price Performance

CRS opened at $411.90 on Thursday. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $351.01 and its 200 day moving average price is $304.64. Carpenter Technology Corporation has a fifty-two week low of $138.61 and a fifty-two week high of $412.31. The firm has a market cap of $20.52 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The company had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. As a group, sell-side analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Tuesday, January 27th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

Insider Activity at Carpenter Technology

In other news, Director Steven E. Karol sold 3,500 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $381.12, for a total value of $1,333,920.00. Following the completion of the transaction, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James D. Dee sold 15,800 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the transaction, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,758 shares of company stock worth $31,665,177 in the last three months. 2.90% of the stock is owned by company insiders.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.