Arizona State Retirement System Boosts Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Arizona State Retirement System lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,772 shares of the basic materials company’s stock after acquiring an additional 202 shares during the quarter. Arizona State Retirement System’s holdings in Carpenter Technology were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology during the fourth quarter worth $25,000. UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 191 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Carpenter Technology during the third quarter worth $65,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology during the third quarter worth $80,000. Finally, Morse Asset Management Inc acquired a new position in shares of Carpenter Technology during the third quarter worth $84,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $172.05 on Tuesday. 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 $63.58 and a 1 year high of $213.66. The company has a market capitalization of $8.59 billion, a PE ratio of 32.46, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a fifty day moving average of $194.14 and a two-hundred day moving average of $174.57.

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

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Carpenter Technology’s payout ratio is 15.09%.

Analysts Set New Price Targets

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

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.