10,500 Shares in Carpenter Technology Co. (NYSE:CRS) Acquired by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board bought a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,500 shares of the basic materials company's stock, valued at approximately $1,782,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its stake in Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after acquiring an additional 1,108,963 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock worth $34,053,000 after purchasing an additional 200,364 shares during the period. Forest Avenue Capital Management LP acquired a new position in Carpenter Technology during the third quarter worth approximately $25,262,000. Finally, WCM Investment Management LLC acquired a new position in Carpenter Technology during the third quarter worth approximately $18,868,000. Institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and an average target price of $156.33.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded down $2.28 during trading hours on Thursday, reaching $208.19. 805,218 shares of the stock were exchanged, compared to its average volume of 766,807. The stock's fifty day simple moving average is $187.83 and its 200 day simple moving average is $169.44. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 0.96 and a beta of 1.54. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Sell-side analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders 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 yield of 0.38%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's dividend payout ratio is currently 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.