New York State Teachers Retirement System Sells 5,258 Shares of Carpenter Technology Co. (NYSE:CRS)

New York State Teachers Retirement System trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,905 shares of the basic materials company's stock after selling 5,258 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Carpenter Technology worth $9,997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in shares of Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock worth $3,364,000 after acquiring an additional 10,094 shares during the last quarter. Fisher Asset Management LLC lifted its position in Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company's stock valued at $58,137,000 after purchasing an additional 13,815 shares in the last quarter. Forest Avenue Capital Management LP bought a new stake in Carpenter Technology during the third quarter valued at about $25,262,000. Natixis Advisors LLC grew its holdings in Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock valued at $3,801,000 after purchasing an additional 1,343 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in Carpenter Technology in the fourth quarter worth about $419,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Carpenter Technology Price Performance

Shares of NYSE CRS traded down $12.80 during mid-day trading on Friday, reaching $195.21. The company's stock had a trading volume of 1,204,543 shares, compared to its average volume of 779,510. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65. The stock has a fifty day moving average of $188.45 and a two-hundred day moving average of $169.70. The firm has a market capitalization of $9.75 billion, a PE ratio of 36.83, a P/E/G ratio of 0.98 and a beta of 1.54.

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

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology's payout ratio is 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.