California Public Employees Retirement System lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,300 shares of the basic materials company’s stock after purchasing an additional 4,200 shares during the quarter. California Public Employees Retirement System owned 0.26% of Carpenter Technology worth $5,922,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its position in shares of Carpenter Technology by 64.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 1,097 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Carpenter Technology by 90.2% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 1,529 shares during the period. Turner Investments LLC acquired a new position in shares of Carpenter Technology during the 3rd quarter valued at $192,000. Public Employees Retirement System of Ohio lifted its position in shares of Carpenter Technology by 7.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 370 shares during the period. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Carpenter Technology during the 3rd quarter valued at $214,000. 95.91% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on CRS shares. Cowen boosted their target price on shares of Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Carpenter Technology from a “hold” rating to a “sell” rating in a report on Monday, January 1st. Finally, KeyCorp restated a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.25.
In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. 4.51% of the stock is currently owned by corporate insiders.
Shares of Carpenter Technology Co. (NYSE CRS) opened at $53.66 on Friday. Carpenter Technology Co. has a one year low of $34.24 and a one year high of $54.61. 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 cap of $2,510.00, a price-to-earnings ratio of 33.33 and a beta of 2.08.
Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million during the quarter, compared to analyst estimates of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. research analysts expect that Carpenter Technology Co. will post 2.4 earnings per share for the current year.
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Carpenter Technology Company 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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