State of New Jersey Common Pension Fund D Trims Position in Carpenter Technology Co. (NYSE:CRS)

State of New Jersey Common Pension Fund D lowered its position in Carpenter Technology Co. (NYSE:CRS) by 54.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,643 shares of the basic materials company’s stock after selling 23,813 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Carpenter Technology were worth $2,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Carpenter Technology by 12.6% during the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after buying an additional 103 shares during the last quarter. GAMMA Investing LLC raised its position in Carpenter Technology by 9.2% in the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after purchasing an additional 136 shares during the period. American International Group Inc. lifted its stake in shares of Carpenter Technology by 0.7% in the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after purchasing an additional 188 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Carpenter Technology by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after purchasing an additional 215 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock valued at $1,835,000 after buying an additional 281 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 5.3 %

Shares of NYSE CRS opened at $154.84 on Friday. The stock has a market cap of $7.68 billion, a P/E ratio of 58.87, a PEG ratio of 0.77 and a beta of 1.45. The business’s fifty day simple moving average is $136.01 and its 200-day simple moving average is $106.74. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $155.58. 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 announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The business had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. During the same quarter last year, the business posted $0.78 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 27th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Analysts Set New Price Targets

CRS has been the subject of several research analyst reports. Benchmark increased their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft began coverage on Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price on the stock. BTIG Research raised their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price objective 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, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.60.

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.