Strs Ohio Makes New $28,000 Investment in Carpenter Technology Co. (NYSE:CRS)

Strs Ohio purchased a new position in Carpenter Technology Co. (NYSE:CRS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 500 shares of the basic materials company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRS. Cerity Partners LLC acquired a new stake in shares of Carpenter Technology during the first quarter worth $752,000. Norwood Financial Corp acquired a new stake in shares of Carpenter Technology during the second quarter worth $32,000. Fifth Third Bancorp lifted its stake in shares of Carpenter Technology by 115.3% during the second quarter. Fifth Third Bancorp now owns 592 shares of the basic materials company’s stock worth $33,000 after buying an additional 317 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Carpenter Technology during the first quarter worth $26,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Carpenter Technology by 124.5% during the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the basic materials company’s stock worth $44,000 after buying an additional 543 shares during the period. 91.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Carpenter Technology news, Director Steven E. Karol sold 1,227 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $69.00, for a total value of $84,663.00. Following the completion of the transaction, the director now owns 180,000 shares in the company, valued at $12,420,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Steven E. Karol sold 1,227 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $69.00, for a total transaction of $84,663.00. Following the completion of the transaction, the director now owns 180,000 shares in the company, valued at approximately $12,420,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $65.00, for a total transaction of $97,500.00. Following the transaction, the vice president now owns 23,008 shares of the company’s stock, valued at approximately $1,495,520. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Carpenter Technology Trading Down 0.9 %

Shares of Carpenter Technology stock opened at $66.65 on Friday. The firm has a 50-day simple moving average of $65.23 and a two-hundred day simple moving average of $57.39. The company has a market cap of $3.29 billion, a P/E ratio of 30.71 and a beta of 1.67. Carpenter Technology Co. has a fifty-two week low of $35.72 and a fifty-two week high of $72.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.37 and a current ratio of 2.95.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.13. The business had revenue of $651.90 million during the quarter, compared to the consensus estimate of $739.15 million. Carpenter Technology had a net margin of 4.00% and a return on equity of 7.83%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. As a group, equities analysts predict that Carpenter Technology Co. will post 3.57 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. Carpenter Technology’s dividend payout ratio (DPR) is currently 36.87%.

Wall Street Analyst Weigh In

CRS has been the subject of several research reports. TD Cowen lifted their price objective on shares of Carpenter Technology from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on shares of Carpenter Technology in a research report on Thursday, October 5th. They set a “hold” rating for the company. Benchmark boosted their target price on shares of Carpenter Technology from $65.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Finally, Northcoast Research started coverage on shares of Carpenter Technology in a research report on Friday, August 25th. They set a “buy” rating and a $73.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

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.