10,500 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,500 shares of the basic materials company’s stock, valued at approximately $1,782,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. increased its position in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 191 shares during the period. nVerses Capital LLC acquired a new stake in Carpenter Technology during the third quarter worth $64,000. Banque Cantonale Vaudoise acquired a new stake in Carpenter Technology during the third quarter worth $65,000. Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology during the third quarter worth $80,000. Finally, Morse Asset Management Inc acquired a new stake in Carpenter Technology during the third quarter worth $84,000. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRS. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.50.

Carpenter Technology Stock Up 3.1 %

Shares of NYSE:CRS opened at $188.92 on Monday. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company’s fifty day moving average is $186.67 and its 200-day moving average is $168.34. The company has a market capitalization of $9.44 billion, a PE ratio of 35.65, a P/E/G ratio of 0.88 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. Equities research analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Carpenter Technology’s dividend payout ratio is 15.09%.

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.