California Public Employees Retirement System Increases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

California Public Employees Retirement System increased its position in shares of Carpenter Technology Co. (NYSE:CRS) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,899 shares of the basic materials company’s stock after purchasing an additional 4,495 shares during the period. California Public Employees Retirement System owned 0.17% of Carpenter Technology worth $14,238,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRS. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $25,000. UMB Bank n.a. increased its stake in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology during the third quarter worth $80,000. Morse Asset Management Inc purchased a new stake in Carpenter Technology in the third quarter valued at $84,000. Finally, Fifth Third Bancorp lifted its stake in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

NYSE CRS opened at $150.90 on Friday. The company has a market cap of $7.54 billion, a P/E ratio of 28.47, a P/E/G ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a 1-year low of $74.21 and a 1-year high of $213.66. 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 50-day moving average of $190.40 and a two-hundred day moving average of $179.94.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

Several brokerages recently issued reports on CRS. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology 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.