California State Teachers Retirement System cut its stake in Carpenter Technology Co. (NYSE:CRS) by 9.7% in the third quarter, HoldingsChannel reports. The firm owned 74,239 shares of the basic materials company’s stock after selling 7,957 shares during the quarter. California State Teachers Retirement System’s holdings in Carpenter Technology were worth $3,566,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its holdings in Carpenter Technology by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 353,009 shares of the basic materials company’s stock valued at $13,214,000 after acquiring an additional 24,883 shares during the last quarter. Legal & General Group Plc lifted its holdings in Carpenter Technology by 16.3% in the second quarter. Legal & General Group Plc now owns 60,710 shares of the basic materials company’s stock valued at $2,274,000 after acquiring an additional 8,524 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Carpenter Technology in the second quarter valued at approximately $802,000. Federated Investors Inc. PA lifted its holdings in Carpenter Technology by 1.4% in the second quarter. Federated Investors Inc. PA now owns 13,259 shares of the basic materials company’s stock valued at $496,000 after acquiring an additional 187 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Carpenter Technology by 1.3% in the second quarter. Prudential Financial Inc. now owns 30,910 shares of the basic materials company’s stock valued at $1,157,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Carpenter Technology Co. (NYSE CRS) opened at $53.13 on Tuesday. Carpenter Technology Co. has a twelve month low of $34.24 and a twelve month high of $54.44. The company has a market capitalization of $2,468.64, a P/E ratio of 32.80 and a beta of 2.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Carpenter Technology had a return on equity of 7.66% and a net margin of 4.88%. The firm had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. equities analysts anticipate that Carpenter Technology Co. will post 2.27 EPS for the current fiscal year.

In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.09, for a total transaction of $561,982.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.51% of the stock is owned by corporate insiders.

A number of research analysts recently commented on the company. Cowen reiterated a “hold” rating and issued a $53.00 price objective on shares of Carpenter Technology in a report on Sunday, December 10th. KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Finally, Zacks Investment Research cut Carpenter Technology from a “hold” rating to a “sell” rating in a report on Monday, January 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Carpenter Technology presently has an average rating of “Hold” and an average target price of $50.80.

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About Carpenter Technology

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.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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