Teacher Retirement System of Texas Sells 2,473 Shares of Carpenter Technology Co. (NYSE:CRS)

Teacher Retirement System of Texas lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,822 shares of the basic materials company's stock after selling 2,473 shares during the quarter. Teacher Retirement System of Texas' holdings in Carpenter Technology were worth $3,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRS. FMR LLC lifted its holdings in Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC grew its stake in Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after buying an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock valued at $122,794,000 after acquiring an additional 103,559 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Carpenter Technology by 428.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock worth $103,714,000 after acquiring an additional 479,985 shares during the last quarter. Finally, Avala Global LP boosted its holdings in shares of Carpenter Technology by 21.0% during the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company's stock worth $67,614,000 after acquiring an additional 73,400 shares during the period. Institutional investors own 92.03% of the company's stock.

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Analyst Ratings Changes

Several research firms recently weighed in on CRS. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.

Carpenter Technology Price Performance

Shares of CRS traded down $4.49 during trading hours on Friday, hitting $181.32. 464,566 shares of the company were exchanged, compared to its average volume of 718,918. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a fifty-two week low of $69.90 and a fifty-two week high of $213.66. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. The firm's fifty day moving average is $194.01 and its 200 day moving average is $178.72.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Carpenter Technology's dividend payout ratio (DPR) is currently 15.09%.

Carpenter Technology Company 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.