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

Public Sector Pension Investment Board boosted its position in Carpenter Technology Co. (NYSE:CRS) by 7.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,187 shares of the basic materials company’s stock after purchasing an additional 7,905 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Carpenter Technology worth $11,965,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CRS. Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology in the second quarter worth approximately $73,850,000. Bayberry Capital Partners LP bought a new position in shares of Carpenter Technology in the first quarter valued at $35,887,000. American Century Companies Inc. increased its holdings in shares of Carpenter Technology by 129.5% in the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after buying an additional 479,047 shares in the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of Carpenter Technology by 199.1% in the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock valued at $48,741,000 after buying an additional 458,227 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Carpenter Technology by 82.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after buying an additional 438,781 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 0.8 %

Shares of NYSE:CRS opened at $157.83 on Tuesday. The stock has a market capitalization of $7.83 billion, a PE ratio of 60.01, a P/E/G ratio of 0.77 and a beta of 1.45. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $160.17. The firm has a fifty day moving average price of $138.66 and a 200 day moving average price of $108.94. The company has a current ratio of 3.41, a quick ratio of 1.84 and a debt-to-equity ratio of 0.43.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The firm had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. Carpenter Technology’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Analysts expect that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Northcoast Research reissued a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price on the stock. TD Cowen boosted their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BTIG Research boosted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Benchmark boosted their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.60.

About Carpenter Technology

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.