60,607 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by Retirement Systems of Alabama

Retirement Systems of Alabama purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,607 shares of the basic materials company's stock, valued at approximately $10,286,000. Retirement Systems of Alabama owned about 0.12% of Carpenter Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CRS. UMB Bank n.a. boosted its position in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $64,000. Banque Cantonale Vaudoise acquired a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $65,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc acquired a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $84,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Up 0.8 %

Shares of CRS traded up $1.55 during midday trading on Wednesday, hitting $186.69. The company had a trading volume of 770,196 shares, compared to its average volume of 708,821. The company's 50-day simple moving average is $187.16 and its 200-day simple moving average is $167.42. The firm has a market capitalization of $9.33 billion, a P/E ratio of 35.22, a P/E/G ratio of 0.88 and a beta of 1.54. Carpenter Technology Co. has a 1 year low of $60.65 and a 1 year 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 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 expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's dividend payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

Several research firms recently commented on CRS. Benchmark reissued a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $155.50.

About Carpenter Technology

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.