Public Employees Retirement System of Ohio Purchases 14,869 Shares of Carpenter Technology Corporation $CRS

Public Employees Retirement System of Ohio increased its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 1,034.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,307 shares of the basic materials company’s stock after acquiring an additional 14,869 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Carpenter Technology were worth $4,507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Carpenter Technology during the first quarter worth $31,000. IMA Advisory Services Inc. bought a new position in shares of Carpenter Technology during the first quarter worth $36,000. Bessemer Group Inc. boosted its position in shares of Carpenter Technology by 50.3% during the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 77 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Carpenter Technology during the first quarter worth $49,000. Finally, Versant Capital Management Inc boosted its position in shares of Carpenter Technology by 27.3% during the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Tony R. Thene sold 19,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $244.99, for a total value of $4,654,810.00. Following the transaction, the chief executive officer owned 535,019 shares of the company’s stock, valued at $131,074,304.81. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven E. Karol sold 3,433 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the transaction, the director directly owned 180,000 shares in the company, valued at $44,240,400. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,124 shares of company stock valued at $6,890,250 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRS. BTIG Research restated a “buy” rating on shares of Carpenter Technology in a research report on Monday, August 4th. Benchmark upped their target price on shares of Carpenter Technology from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $278.33.

Carpenter Technology Trading Down 3.7%

Shares of CRS opened at $241.69 on Tuesday. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $290.84. The company has a market cap of $12.05 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.14 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 2.01 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $249.17 and its 200-day simple moving average is $232.06.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.03 by $0.18. The company had revenue of $755.60 million for the quarter, compared to the consensus estimate of $790.73 million. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. As a group, analysts expect that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Tuesday, August 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, August 26th. Carpenter Technology’s dividend payout ratio (DPR) is currently 10.78%.

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.