Carpenter Technology Co. (NYSE:CRS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 27.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,081 shares of the basic materials company's stock after selling 43,593 shares during the period. New York State Common Retirement Fund owned approximately 0.24% of Carpenter Technology worth $18,843,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CRS. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Carpenter Technology by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company's stock valued at $825,000 after purchasing an additional 215 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Carpenter Technology by 40.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 10,752 shares of the basic materials company's stock valued at $768,000 after acquiring an additional 3,113 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Carpenter Technology by 68.7% during the 1st quarter. BNP Paribas Financial Markets now owns 25,730 shares of the basic materials company's stock worth $1,838,000 after acquiring an additional 10,477 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company's stock worth $1,835,000 after acquiring an additional 281 shares during the period. Finally, Whittier Trust Co. purchased a new position in Carpenter Technology in the 1st quarter valued at approximately $30,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CRS. Benchmark reiterated a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research increased their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.60.

Carpenter Technology Price Performance

Carpenter Technology stock traded up $6.90 during mid-day trading on Tuesday, hitting $161.13. 544,675 shares of the company were exchanged, compared to its average volume of 591,656. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $166.67. The company has a market capitalization of $8.03 billion, a P/E ratio of 34.58, a PEG ratio of 0.78 and a beta of 1.46. The business's 50 day simple moving average is $151.99 and its two-hundred day simple moving average is $127.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to analysts' expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. Analysts forecast that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology's payout ratio is 17.82%.

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.