Public Sector Pension Investment Board reduced its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 105,987 shares of the basic materials company's stock after selling 3,200 shares during the period. Public Sector Pension Investment Board owned 0.21% of Carpenter Technology worth $16,913,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position 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 worth $552,992,000 after purchasing an additional 1,108,963 shares during the period. American Century Companies Inc. grew its position in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock worth $93,044,000 after buying an additional 479,047 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock worth $122,794,000 after buying an additional 103,559 shares during the last quarter. Wolf Hill Capital Management LP acquired a new position in Carpenter Technology in the second quarter valued at approximately $73,850,000. Finally, Fisher Asset Management LLC boosted its stake in Carpenter Technology by 3.9% in 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 acquiring an additional 13,815 shares during the last quarter. Institutional investors own 92.03% of the company's stock.
Wall Street Analyst Weigh In
CRS has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an "overweight" rating and a $220.00 target price for the company. Benchmark reiterated a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $153.00.
Read Our Latest Stock Analysis on Carpenter Technology
Carpenter Technology Trading Down 0.2 %
Carpenter Technology stock traded down $0.36 during mid-day trading on Friday, hitting $194.10. 283,217 shares of the company's stock were exchanged, compared to its average volume of 593,276. The company's 50 day simple moving average is $166.74 and its 200-day simple moving average is $137.90. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $9.68 billion, a P/E ratio of 43.48, a PEG ratio of 0.97 and a beta of 1.46. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $198.24.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for 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%. Carpenter Technology's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.74 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology's payout ratio is 17.82%.
About Carpenter Technology
(
Free Report)
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.
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