Carpenter Technology Corporation (NYSE:CRS) Position Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,000 shares of the basic materials company’s stock after buying an additional 2,299 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Carpenter Technology Corporation worth $1,909,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRS. Marshall Wace North America L.P. bought a new position in shares of Carpenter Technology Corporation during the 2nd quarter valued at about $802,000. JPMorgan Chase & Co. raised its position in Carpenter Technology Corporation by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 573,376 shares of the basic materials company’s stock valued at $21,461,000 after acquiring an additional 66,712 shares in the last quarter. Paradigm Capital Management Inc. NY raised its position in Carpenter Technology Corporation by 23.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 14,700 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 2,800 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Carpenter Technology Corporation by 15.4% during the first quarter. UBS Asset Management Americas Inc. now owns 29,093 shares of the basic materials company’s stock valued at $1,085,000 after acquiring an additional 3,891 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Carpenter Technology Corporation by 9.9% during the first quarter. Bank of America Corp DE now owns 193,060 shares of the basic materials company’s stock valued at $7,201,000 after acquiring an additional 17,463 shares in the last quarter. 97.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on CRS shares. Cowen and Company reissued a “hold” rating and issued a $37.00 price target on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, July 18th. Longbow Research boosted their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Finally, KeyCorp reiterated a “hold” rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $48.17.

Shares of Carpenter Technology Corporation (NYSE:CRS) traded down $1.40 during trading hours on Friday, reaching $46.60. The company’s stock had a trading volume of 322,200 shares, compared to its average volume of 355,027. The company has a market cap of $2,246.73, a PE ratio of 28.91 and a beta of 2.09. Carpenter Technology Corporation has a 12-month low of $34.24 and a 12-month high of $51.88. 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 Corporation (NYSE:CRS) last announced its quarterly earnings results 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. The company had revenue of $479.80 million during the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology Corporation had a return on equity of 6.67% and a net margin of 4.06%. Carpenter Technology Corporation’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. sell-side analysts expect that Carpenter Technology Corporation will post 2.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be given a $0.18 dividend. The ex-dividend date is Monday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. Carpenter Technology Corporation’s dividend payout ratio is presently 44.44%.

In other Carpenter Technology Corporation news, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $40.25, for a total transaction of $161,000.00. Following the completion of the transaction, the director now owns 4,200 shares of the company’s stock, valued at approximately $169,050. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director I Martin Inglis sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total value of $318,160.00. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $445,424. The disclosure for this sale can be found here. Insiders sold a total of 22,645 shares of company stock valued at $909,803 over the last quarter. 4.51% of the stock is owned by insiders.

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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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