Public Sector Pension Investment Board Decreases Stock Position in Carpenter Technology Co. (NYSE:CRS)

Public Sector Pension Investment Board cut its holdings in Carpenter Technology Co. (NYSE:CRS) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,987 shares of the basic materials company’s stock after selling 3,200 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Carpenter Technology worth $16,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Forest Avenue Capital Management LP purchased a new position in Carpenter Technology in the 3rd quarter valued at about $25,262,000. FMR LLC lifted 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 valued at $552,992,000 after purchasing an additional 1,108,963 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Carpenter Technology by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,838 shares of the basic materials company’s stock valued at $4,442,000 after purchasing an additional 908 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Carpenter Technology in the 3rd quarter valued at about $229,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Carpenter Technology by 12,878.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,321 shares of the basic materials company’s stock valued at $850,000 after purchasing an additional 5,280 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Trading Down 0.9 %

Shares of CRS stock opened at $194.46 on Friday. The firm has a market cap of $9.69 billion, a P/E ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.46. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $198.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The firm’s 50-day simple moving average is $165.95 and its 200-day simple moving average is $137.50.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, equities analysts forecast that Carpenter Technology Co. will post 6.61 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.