New York State Common Retirement Fund Decreases Stock Position in Carpenter Technology Co. (NYSE:CRS)

New York State Common Retirement Fund trimmed its holdings in Carpenter Technology Co. (NYSE:CRS) by 18.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 96,207 shares of the basic materials company’s stock after selling 21,874 shares during the quarter. New York State Common Retirement Fund’s holdings in Carpenter Technology were worth $16,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology in the fourth quarter valued at approximately $25,000. UMB Bank n.a. grew its position in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 191 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Carpenter Technology during the 3rd quarter valued at about $65,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Carpenter Technology in the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new stake in Carpenter Technology in the third quarter worth $84,000. 92.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRS shares. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $195.21 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The business has a 50-day simple moving average of $188.87 and a two-hundred day simple moving average of $170.62. Carpenter Technology Co. has a fifty-two week low of $62.99 and a fifty-two week high of $213.65.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.