Carpenter Technology Corporation $CRS Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in shares of Carpenter Technology in the second quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology during the second quarter worth $43,000. Rakuten Securities Inc. purchased a new position in Carpenter Technology in the 2nd quarter valued at $45,000. Root Financial Partners LLC purchased a new position in Carpenter Technology in the 3rd quarter valued at $41,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock valued at $42,000 after buying an additional 60 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRS has been the topic of several analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research report on Thursday, November 13th. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. BTIG Research increased their target price on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus price target of $385.50.

Carpenter Technology Stock Up 2.7%

Shares of NYSE CRS opened at $411.90 on Thursday. The firm’s 50-day moving average is $351.01 and its two-hundred day moving average is $304.64. The company has a market capitalization of $20.52 billion, a PE ratio of 47.84, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $412.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. During the same period in the previous year, the firm posted $1.66 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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

Insider Activity

In other Carpenter Technology news, SVP James D. Dee sold 15,800 shares of the company’s stock in a transaction dated 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 approximately $28,889,465.42. This represents a 17.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven E. Karol sold 3,500 shares of Carpenter Technology stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 97,758 shares of company stock worth $31,665,177 over the last three months. 2.90% of the stock is currently owned by corporate 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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.