TIAA CREF Investment Management LLC Has $8.92 Million Holdings in Carpenter Technology Co. (CRS)

TIAA CREF Investment Management LLC cut its holdings in Carpenter Technology Co. (NYSE:CRS) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,245 shares of the basic materials company’s stock after selling 2,314 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.32% of Carpenter Technology worth $8,916,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors lifted its stake in Carpenter Technology by 476.1% in the third quarter. Captrust Financial Advisors now owns 2,656 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 2,195 shares during the last quarter. Buckingham Asset Management LLC acquired a new stake in Carpenter Technology in the third quarter valued at approximately $205,000. Jane Street Group LLC acquired a new stake in Carpenter Technology in the second quarter valued at approximately $220,000. D.A. Davidson & CO. acquired a new stake in Carpenter Technology in the third quarter valued at approximately $223,000. Finally, Global X Management Co LLC acquired a new stake in Carpenter Technology in the second quarter valued at approximately $282,000. Hedge funds and other institutional investors own 94.00% of the company’s stock.

Shares of Carpenter Technology stock opened at $41.44 on Monday. The company has a quick ratio of 1.23, a current ratio of 3.27 and a debt-to-equity ratio of 0.37. Carpenter Technology Co. has a 1-year low of $32.77 and a 1-year high of $61.49. The firm has a market capitalization of $1.93 billion, a PE ratio of 16.58 and a beta of 2.17.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.09). Carpenter Technology had a return on equity of 9.03% and a net margin of 8.74%. The firm had revenue of $572.40 million during the quarter, compared to analyst estimates of $559.00 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Carpenter Technology’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts anticipate that Carpenter Technology Co. will post 3.16 EPS for the current year.

A number of research firms have issued reports on CRS. Zacks Investment Research cut shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Deutsche Bank set a $50.00 price objective on shares of Carpenter Technology and gave the stock a “hold” rating in a research note on Thursday, October 25th. ValuEngine cut shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Longbow Research upgraded shares of Carpenter Technology from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, December 11th. Finally, Cowen restated a “buy” rating and issued a $53.00 price objective on shares of Carpenter Technology in a research note on Thursday, December 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.00.

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Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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