Public Employees Retirement System of Ohio Has $89,000 Position in Carpenter Technology Co. (NYSE:CRS)

Public Employees Retirement System of Ohio cut its position in Carpenter Technology Co. (NYSE:CRS) by 18.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 555 shares of the basic materials company’s stock after selling 122 shares during the period. Public Employees Retirement System of Ohio’s holdings in Carpenter Technology were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRS. FMR LLC raised its holdings in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after buying an additional 1,108,963 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Carpenter Technology by 129.5% during 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 acquiring an additional 479,047 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after purchasing an additional 103,559 shares during the period. Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology in the second quarter worth $73,850,000. Finally, Avala Global LP increased its holdings in Carpenter Technology by 21.0% in the third quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after purchasing an additional 73,400 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

CRS stock opened at $169.97 on Monday. The firm has a market cap of $8.47 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $174.07 and a 200-day moving average price of $146.27. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $198.24.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. As a group, equities research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Carpenter Technology’s payout ratio is presently 17.82%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Benchmark reaffirmed a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology 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.