California Public Employees Retirement System lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,300 shares of the basic materials company’s stock after acquiring an additional 4,200 shares during the quarter. California Public Employees Retirement System owned approximately 0.26% of Carpenter Technology worth $5,922,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in CRS. Victory Capital Management Inc. raised its holdings in Carpenter Technology by 103.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,828,669 shares of the basic materials company’s stock valued at $87,831,000 after buying an additional 928,150 shares during the period. Rice Hall James & Associates LLC purchased a new stake in Carpenter Technology during the 3rd quarter valued at $20,374,000. Emerald Advisers Inc. PA purchased a new stake in Carpenter Technology in the third quarter worth $18,193,000. Frontier Capital Management Co. LLC increased its stake in Carpenter Technology by 38.9% in the third quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock worth $59,674,000 after purchasing an additional 347,965 shares during the period. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Carpenter Technology in the third quarter worth $11,277,000. Institutional investors own 95.91% of the company’s stock.
In other news, COO Joseph E. Haniford sold 11,448 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.51% of the stock is owned by corporate insiders.
Carpenter Technology Co. (NYSE CRS) opened at $53.72 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.91 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2,532.31, a PE ratio of 33.16 and a beta of 2.08. Carpenter Technology Co. has a 12 month low of $34.24 and a 12 month high of $54.44.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. research analysts anticipate that Carpenter Technology Co. will post 2.27 EPS for the current year.
A number of equities analysts have recently issued reports on CRS shares. KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a research report on Wednesday, October 11th. Zacks Investment Research downgraded Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Cowen raised their price objective on Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.00.
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Carpenter Technology Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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