Teachers Retirement System of The State of Kentucky Purchases 5,324 Shares of Carpenter Technology Co. (NYSE:CRS)

Teachers Retirement System of The State of Kentucky raised its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 34.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,643 shares of the basic materials company's stock after acquiring an additional 5,324 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Carpenter Technology were worth $3,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock worth $410,000 after buying an additional 63 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after purchasing an additional 71 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Carpenter Technology by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock worth $258,000 after purchasing an additional 78 shares during the period. Fifth Third Bancorp boosted its stake in shares of Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock valued at $97,000 after buying an additional 109 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock worth $1,663,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRS. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.

Carpenter Technology Trading Down 0.4 %

NYSE CRS traded down $0.70 during mid-day trading on Friday, reaching $198.70. 1,034,295 shares of the stock were exchanged, compared to its average volume of 753,418. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The stock has a market cap of $9.92 billion, a P/E ratio of 37.49, a P/E/G ratio of 0.93 and a beta of 1.28. The stock has a 50 day simple moving average of $183.39 and a 200-day simple moving average of $181.77. Carpenter Technology Co. has a one year low of $82.46 and a one year high of $213.66.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. The company had revenue of $727.00 million for the quarter, compared to analyst estimates of $729.67 million. On average, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology announced that its board has authorized a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio is presently 15.09%.

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.