Teacher Retirement System of Texas Has $1.64 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Teacher Retirement System of Texas lessened its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,155 shares of the basic materials company's stock after selling 11,879 shares during the quarter. Teacher Retirement System of Texas' holdings in Carpenter Technology were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Carpenter Technology in the 3rd quarter worth about $284,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Carpenter Technology in the third quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Carpenter Technology by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,184 shares of the basic materials company's stock valued at $550,000 after purchasing an additional 1,174 shares during the last quarter. Strs Ohio lifted its holdings in Carpenter Technology by 400.0% in the 3rd quarter. Strs Ohio now owns 2,500 shares of the basic materials company's stock valued at $168,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Carpenter Technology by 9.7% in the third quarter. Principal Financial Group Inc. now owns 359,981 shares of the basic materials company's stock valued at $24,194,000 after buying an additional 31,694 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Insider Activity at Carpenter Technology

In other news, VP Marshall D. Akins sold 4,358 shares of the company's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $102.23, for a total value of $445,518.34. Following the completion of the sale, the vice president now owns 23,014 shares of the company's stock, valued at $2,352,721.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Marshall D. Akins sold 4,358 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total transaction of $445,518.34. Following the sale, the vice president now owns 23,014 shares in the company, valued at $2,352,721.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Elizabeth A. Socci sold 802 shares of the company's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the transaction, the vice president now owns 11,509 shares of the company's stock, valued at $1,175,183.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,160 shares of company stock worth $3,645,081. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Northcoast Research restated a "neutral" rating on shares of Carpenter Technology in a report on Monday, May 6th. Benchmark lifted their price target on Carpenter Technology from $100.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Finally, TD Cowen increased their price objective on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a "buy" rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $109.67.

Carpenter Technology Trading Down 0.1 %

CRS stock traded down $0.15 during trading on Friday, reaching $109.83. 501,542 shares of the stock traded hands, compared to its average volume of 750,687. The firm has a market capitalization of $5.45 billion, a PE ratio of 41.76 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The business's 50 day moving average price is $82.12 and its 200-day moving average price is $72.16. Carpenter Technology Co. has a 52-week low of $44.40 and a 52-week high of $110.89.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The business had revenue of $684.90 million during the quarter, compared to analysts' expectations of $707.73 million. During the same quarter in the previous year, the business earned $0.38 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that Carpenter Technology Co. will post 4.18 earnings per share for the current year.

Carpenter Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be given a $0.20 dividend. The ex-dividend date is Monday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.73%. This is a positive change from Carpenter Technology's previous quarterly dividend of $0.18. Carpenter Technology's dividend payout ratio is presently 30.42%.

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.