Arizona State Retirement System increased its position in Carpenter Technology Co. (NYSE:CRS) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,698 shares of the basic materials company’s stock after purchasing an additional 7,193 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of Carpenter Technology worth $1,718,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Huntington National Bank lifted its position in Carpenter Technology by 1,902.0% in the fourth quarter. Huntington National Bank now owns 2,002 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 1,902 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Carpenter Technology by 90.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 1,529 shares during the period. Turner Investments LLC bought a new position in Carpenter Technology in the third quarter worth $192,000. Public Employees Retirement System of Ohio lifted its position in Carpenter Technology by 7.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 370 shares during the period. Finally, Brown Advisory Inc. bought a new position in Carpenter Technology in the third quarter worth $293,000. 98.26% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Co. (CRS) opened at $52.30 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 2.99. Carpenter Technology Co. has a 12 month low of $34.24 and a 12 month high of $54.61. The stock has a market capitalization of $2,460.00, a price-to-earnings ratio of 26.15 and a beta of 1.96.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 6th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, February 5th. This represents a $0.72 annualized dividend and a yield of 1.38%. Carpenter Technology’s dividend payout ratio is currently 36.00%.
Several research analysts have issued reports on CRS shares. Zacks Investment Research upgraded Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a research note on Thursday, January 18th. Cowen reiterated a “hold” rating and set a $53.00 price objective on shares of Carpenter Technology in a research note on Sunday, December 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a research note on Thursday, November 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Carpenter Technology presently has an average rating of “Hold” and an average price target of $52.25.
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Carpenter Technology Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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