Illinois Municipal Retirement Fund Sells 23,449 Shares of Carpenter Technology Co. (NYSE:CRS)

Illinois Municipal Retirement Fund lessened its position in shares of Carpenter Technology Co. (NYSE:CRS) by 85.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,138 shares of the basic materials company’s stock after selling 23,449 shares during the period. Illinois Municipal Retirement Fund’s holdings in Carpenter Technology were worth $702,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Carpenter Technology during the 4th quarter worth about $25,000. UMB Bank n.a. increased its holdings in Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 191 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Carpenter Technology during the 3rd quarter worth about $65,000. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology during the 3rd quarter worth about $80,000. Finally, Morse Asset Management Inc acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $84,000. Institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note 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’s stock. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Trading Down 0.3 %

Shares of NYSE:CRS opened at $206.51 on Tuesday. Carpenter Technology Co. has a 52-week low of $62.99 and a 52-week high of $213.66. The company has a market capitalization of $10.31 billion, a P/E ratio of 38.96, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The company has a 50-day simple moving average of $191.91 and a 200 day simple moving average of $172.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

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

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.