New York State Common Retirement Fund Trims Stake in Carpenter Technology Co. (NYSE:CRS)

New York State Common Retirement Fund decreased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 27.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,669 shares of the basic materials company's stock after selling 72,092 shares during the quarter. New York State Common Retirement Fund owned approximately 0.38% of Carpenter Technology worth $13,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRS. Invesco Ltd. grew its position in shares of Carpenter Technology by 24.2% during the 3rd quarter. Invesco Ltd. now owns 1,331,705 shares of the basic materials company's stock worth $89,504,000 after buying an additional 259,330 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Carpenter Technology by 172.7% during the third quarter. Assenagon Asset Management S.A. now owns 406,108 shares of the basic materials company's stock valued at $27,295,000 after purchasing an additional 257,178 shares in the last quarter. Hawk Ridge Capital Management LP bought a new stake in Carpenter Technology during the third quarter valued at about $15,472,000. FMR LLC boosted its position in Carpenter Technology by 15.9% during the third quarter. FMR LLC now owns 1,545,931 shares of the basic materials company's stock valued at $103,902,000 after purchasing an additional 212,321 shares in the last quarter. Finally, Lisanti Capital Growth LLC boosted its position in Carpenter Technology by 503.9% during the third quarter. Lisanti Capital Growth LLC now owns 177,970 shares of the basic materials company's stock valued at $11,961,000 after purchasing an additional 148,500 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Up 2.4 %

CRS stock traded up $1.97 during trading on Tuesday, reaching $85.70. 1,069,255 shares of the company traded hands, compared to its average volume of 498,123. Carpenter Technology Co. has a 12 month low of $44.40 and a 12 month high of $86.79. The business has a 50 day simple moving average of $71.49 and a 200 day simple moving average of $68.19. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 29.81 and a beta of 1.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.90.

Carpenter Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.93%. This is an increase from Carpenter Technology's previous quarterly dividend of $0.18. Carpenter Technology's dividend payout ratio (DPR) is presently 27.68%.

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.