Carpenter Technology Co. (NYSE:CRS) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its position in Carpenter Technology Co. (NYSE:CRS) by 2.9% in the 3rd quarter, Holdings Channel reports. The fund owned 105,987 shares of the basic materials company’s stock after selling 3,200 shares during the period. Public Sector Pension Investment Board’s holdings in Carpenter Technology were worth $16,913,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology during the second quarter worth approximately $33,000. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology during the third quarter worth approximately $64,000. Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology during the third quarter worth approximately $65,000. National Bank of Canada FI acquired a new stake in shares of Carpenter Technology during the second quarter worth approximately $49,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRS. Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Stock Performance

CRS stock opened at $194.46 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock has a market capitalization of $9.69 billion, a price-to-earnings 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 stock’s fifty day moving average is $165.95 and its two-hundred day 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, beating analysts’ consensus estimates of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. On average, research analysts predict that Carpenter Technology Co. will post 6.61 EPS for the current year.

Carpenter Technology Dividend Announcement

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