Oregon Public Employees Retirement Fund Trims Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Oregon Public Employees Retirement Fund decreased its position in Carpenter Technology Co. (NYSE:CRS) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,100 shares of the basic materials company’s stock after selling 1,637 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Carpenter Technology were worth $1,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRS. Private Advisor Group LLC raised its stake in Carpenter Technology by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock worth $846,000 after acquiring an additional 196 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Carpenter Technology by 2.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,948 shares of the basic materials company’s stock worth $1,907,000 after purchasing an additional 319 shares during the period. Nisa Investment Advisors LLC grew its position in Carpenter Technology by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,968 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 457 shares during the period. New York State Teachers Retirement System grew its position in Carpenter Technology by 6.8% during the 3rd quarter. New York State Teachers Retirement System now owns 64,163 shares of the basic materials company’s stock worth $10,239,000 after purchasing an additional 4,094 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in Carpenter Technology by 8.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

NYSE:CRS opened at $207.25 on Friday. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.35 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The stock’s 50-day moving average price is $191.17 and its 200-day moving average price is $171.85.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, equities analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

About Carpenter Technology

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.