Texas Permanent School Fund Boosts Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Texas Permanent School Fund grew its position in shares of Carpenter Technology Co. (NYSE:CRSGet Rating) by 2.0% during the second quarter, Holdings Channel.com reports. The fund owned 34,895 shares of the basic materials company’s stock after purchasing an additional 675 shares during the quarter. Texas Permanent School Fund’s holdings in Carpenter Technology were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CRS. Mutual of America Capital Management LLC boosted its holdings in Carpenter Technology by 5.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,955 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 372 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Carpenter Technology in the 1st quarter worth about $2,863,000. Commonwealth Equity Services LLC boosted its holdings in shares of Carpenter Technology by 27.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,937 shares of the basic materials company’s stock worth $375,000 after buying an additional 1,904 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Carpenter Technology in the 1st quarter worth about $393,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Carpenter Technology by 34.4% in the 1st quarter. Russell Investments Group Ltd. now owns 127,240 shares of the basic materials company’s stock worth $5,339,000 after buying an additional 32,598 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cowen raised shares of Carpenter Technology from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Monday, September 12th. Cowen upgraded Carpenter Technology from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Monday, September 12th. Finally, StockNews.com upgraded Carpenter Technology from a “sell” rating to a “hold” rating in a research note on Monday, November 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.75.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $40.99 on Friday. The company has a market capitalization of $1.99 billion, a P/E ratio of -47.66 and a beta of 1.69. The business’s 50 day moving average is $36.38 and its two-hundred day moving average is $33.90. The company has a current ratio of 2.80, a quick ratio of 1.30 and a debt-to-equity ratio of 0.53. Carpenter Technology Co. has a 12-month low of $24.76 and a 12-month high of $44.96.

Carpenter Technology (NYSE:CRSGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Carpenter Technology had a negative return on equity of 3.35% and a negative net margin of 2.09%. The company had revenue of $522.90 million for the quarter, compared to the consensus estimate of $558.00 million. Analysts expect that Carpenter Technology Co. will post 1.15 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, October 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.95%. Carpenter Technology’s payout ratio is currently -93.02%.

Carpenter Technology Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Co. (NYSE:CRSGet Rating).

Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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