Illinois Municipal Retirement Fund Sells 23,449 Shares of Carpenter Technology Co. (NYSE:CRS)

Illinois Municipal Retirement Fund reduced its stake in Carpenter Technology Co. (NYSE:CRS) by 85.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,138 shares of the basic materials company’s stock after selling 23,449 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Carpenter Technology were worth $702,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Stratos Wealth Partners LTD. raised its holdings in Carpenter Technology by 2.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after acquiring an additional 63 shares during the period. CIBC Asset Management Inc raised its holdings in Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 78 shares during the period. Strengthening Families & Communities LLC raised its holdings in Carpenter Technology by 0.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after acquiring an additional 100 shares during the period. Fifth Third Bancorp raised its holdings in 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 acquiring an additional 109 shares during the period. Finally, Wesbanco Bank Inc. raised its holdings in Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after acquiring an additional 115 shares during the period. 92.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CRS. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $206.51 on Tuesday. The company’s 50 day simple moving average is $191.91 and its 200 day simple moving average is $172.75. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a 1 year low of $62.99 and a 1 year high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.39%. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

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.