Carpenter Technology Co. (NYSE:CRS) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its position in Carpenter Technology Co. (NYSE:CRS) by 13.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,100 shares of the basic materials company’s stock after selling 1,637 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Carpenter Technology were worth $1,714,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after buying an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after buying an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Carpenter Technology by 15.6% in the 3rd 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. Allspring Global Investments Holdings LLC lifted its stake in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after purchasing an additional 479,985 shares in the last quarter. Finally, Avala Global LP lifted its stake in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRS. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of 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 sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology Stock Up 4.4 %

CRS stock opened at $207.25 on Friday. The firm has a market cap of $10.35 billion, a PE ratio of 39.10, a PEG ratio of 0.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm’s 50 day moving average price is $191.17 and its 200-day moving average price is $171.85. Carpenter Technology Co. has a one year low of $62.99 and a one year high of $213.65.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities research analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s 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.