Illinois Municipal Retirement Fund Lowers Position in Carpenter Technology Co. (NYSE:CRS)

Illinois Municipal Retirement Fund lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,838 shares of the basic materials company’s stock after selling 1,366 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Carpenter Technology worth $1,988,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new position in shares of Carpenter Technology in the 4th quarter worth approximately $29,000. Whittier Trust Co. acquired a new position in Carpenter Technology during the first quarter worth $30,000. Johnson Financial Group Inc. purchased a new position in shares of Carpenter Technology during the fourth quarter worth $31,000. Westend Capital Management LLC purchased a new stake in shares of Carpenter Technology in the 1st quarter valued at $36,000. Finally, Fifth Third Bancorp increased its stake in Carpenter Technology by 322.5% during the fourth quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 887 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a research note on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective on the stock. BTIG Research began coverage on shares of Carpenter Technology in a report on Wednesday, June 26th. They issued a “buy” rating and a $120.00 target price on the stock. Northcoast Research reaffirmed a “sell” rating and set a $89.00 price objective on shares of Carpenter Technology in a research report on Friday, June 14th. TD Cowen raised their price target on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $140.00 price target on shares of Carpenter Technology in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.60.

Insider Buying and Selling at Carpenter Technology

In other news, Director Steven E. Karol sold 31,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the transaction, the director now directly owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total value of $81,892.22. Following the completion of the transaction, the vice president now directly owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven E. Karol sold 31,000 shares of the business’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 sale, the director now directly 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 three months, insiders have sold 59,678 shares of company stock valued at $6,261,693. 3.40% of the stock is owned by company insiders.

Carpenter Technology Stock Performance

Shares of CRS stock traded up $1.49 during mid-day trading on Friday, hitting $110.97. 346,822 shares of the stock were exchanged, compared to its average volume of 747,411. The stock has a market capitalization of $5.51 billion, a price-to-earnings 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 Co. has a 12-month low of $55.58 and a 12-month high of $112.94. The stock’s fifty day simple moving average is $106.08 and its two-hundred day simple moving average is $82.65.

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