Carpenter Technology Co. (NYSE:CRS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Carpenter Technology Co. (NYSE:CRS) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,227 shares of the basic materials company’s stock after selling 1,416 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Carpenter Technology were worth $2,909,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in shares of Carpenter Technology during the second quarter worth approximately $33,000. National Bank of Canada FI purchased a new stake in shares of Carpenter Technology during the second quarter worth $49,000. EverSource Wealth Advisors LLC raised its position in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after buying an additional 178 shares during the last quarter. Covestor Ltd lifted its stake in shares of Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after buying an additional 685 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Carpenter Technology during the third quarter worth about $64,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

NYSE:CRS opened at $177.03 on Thursday. The company’s 50-day moving average is $156.73 and its two-hundred day moving average is $131.49. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $182.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 0.89 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The firm 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Analysts forecast that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.45%. Carpenter Technology’s dividend payout ratio (DPR) is currently 17.82%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRS. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research lifted their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.