Louisiana State Employees Retirement System Sells 900 Shares of Carpenter Technology Co. (NYSE:CRS)

Louisiana State Employees Retirement System lowered its position in Carpenter Technology Co. (NYSE:CRS) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,100 shares of the basic materials company’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Carpenter Technology were worth $3,846,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kimelman & Baird LLC bought a new stake in Carpenter Technology during the 2nd quarter worth approximately $33,000. nVerses Capital LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $64,000. Whittier Trust Co. bought a new stake in shares of Carpenter Technology during the 1st quarter valued at about $30,000. National Bank of Canada FI bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC lifted its position in Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 0.7 %

Shares of Carpenter Technology stock opened at $155.47 on Friday. The company’s 50 day moving average price is $150.28 and its 200-day moving average price is $123.49. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $166.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 59.11, a P/E/G ratio of 0.83 and a beta of 1.45.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.16. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. Equities research analysts forecast that Carpenter Technology Co. will post 6.63 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Carpenter Technology’s payout ratio is presently 30.42%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRS. BTIG Research boosted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark restated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

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.