Nisa Investment Advisors LLC Boosts Stock Position in Carpenter Technology Corporation $CRS

Nisa Investment Advisors LLC boosted its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 14.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,358 shares of the basic materials company’s stock after purchasing an additional 1,771 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Carpenter Technology were worth $3,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRS. Prudential Financial Inc. raised its position in Carpenter Technology by 43.3% during the second quarter. Prudential Financial Inc. now owns 56,082 shares of the basic materials company’s stock worth $15,500,000 after acquiring an additional 16,954 shares during the period. Schroder Investment Management Group increased its stake in shares of Carpenter Technology by 11.1% during the second quarter. Schroder Investment Management Group now owns 57,625 shares of the basic materials company’s stock worth $15,926,000 after purchasing an additional 5,757 shares in the last quarter. Whitaker Myers Wealth Managers LTD. acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $797,000. Y Intercept Hong Kong Ltd purchased a new position in Carpenter Technology in the 2nd quarter valued at about $1,460,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Carpenter Technology by 15.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock valued at $138,328,000 after buying an additional 71,872 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Carpenter Technology

In other news, VP Elizabeth A. Socci sold 3,900 shares of Carpenter Technology stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the transaction, the vice president owned 9,594 shares in the company, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian J. Malloy sold 4,130 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total transaction of $1,253,537.60. Following the sale, the chief operating officer owned 78,875 shares in the company, valued at $23,940,140. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,358 shares of company stock worth $24,254,008 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CRS shares. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research note on Thursday, November 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft set a $425.00 price target on shares of Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Zacks Research cut shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $371.14.

Carpenter Technology Stock Down 1.9%

Shares of NYSE CRS opened at $322.38 on Tuesday. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $321.58 and its two-hundred day moving average is $281.51. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $348.99. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 1.37 and a beta of 1.29.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.30. The firm had revenue of $733.70 million for the quarter, compared to the consensus estimate of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. Research analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.