Illinois Municipal Retirement Fund Has $1.99 Million Position in Carpenter Technology Co. (NYSE:CRS)

Illinois Municipal Retirement Fund reduced its position in Carpenter Technology Co. (NYSE:CRS) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,838 shares of the basic materials company’s stock after selling 1,366 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Carpenter Technology were worth $1,988,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American International Group Inc. grew its stake in shares of Carpenter Technology by 0.7% during the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock worth $1,887,000 after buying an additional 188 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Carpenter Technology by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after purchasing an additional 215 shares during the period. Range Financial Group LLC increased its stake in Carpenter Technology by 2.5% in the fourth quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock valued at $760,000 after purchasing an additional 259 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock valued at $1,835,000 after buying an additional 281 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Carpenter Technology by 1.2% in the fourth quarter. Comerica Bank now owns 24,931 shares of the basic materials company’s stock valued at $1,765,000 after purchasing an additional 307 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRS. BTIG Research assumed coverage on Carpenter Technology in a research note on Wednesday, June 26th. They issued a “buy” rating and a $120.00 target price on the stock. Northcoast Research reissued a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a report on Friday, June 14th. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Carpenter Technology in a research report on Tuesday, May 28th. TD Cowen lifted their price target on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

Insider Activity

In related news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the sale, the vice president now directly owns 11,509 shares in the company, valued at approximately $1,175,183.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the completion of the sale, the vice president now owns 11,509 shares in the company, valued at approximately $1,175,183.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the transaction, the director now owns 244,126 shares in the company, valued at approximately $24,551,751.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,678 shares of company stock valued at $6,261,693. Corporate insiders own 3.40% of the company’s stock.

Carpenter Technology Price Performance

Carpenter Technology stock traded up $1.49 during midday trading on Friday, hitting $110.97. 346,822 shares of the company’s stock were exchanged, compared to its average volume of 747,411. The stock has a 50-day moving average price of $106.08 and a two-hundred day moving average price of $82.65. Carpenter Technology Co. has a 52-week low of $55.58 and a 52-week high of $112.94. The company has a market cap of $5.51 billion, a P/E ratio of 42.19 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 3.20.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.25. The company had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts forecast that Carpenter Technology Co. will post 4.35 earnings per share for the current year.

Carpenter Technology Company Profile

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.