Carpenter Technology Corporation $CRS Stock Position Boosted by Dorsey Wright & Associates

Dorsey Wright & Associates raised its holdings in Carpenter Technology Corporation (NYSE:CRS) by 53.6% during the first quarter, Holdings Channel reports. The institutional investor owned 59,932 shares of the basic materials company’s stock after buying an additional 20,920 shares during the period. Carpenter Technology makes up about 2.9% of Dorsey Wright & Associates’ holdings, making the stock its 6th largest position. Dorsey Wright & Associates’ holdings in Carpenter Technology were worth $23,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California Public Employees Retirement System raised its position in shares of Carpenter Technology by 3.1% during the 1st quarter. California Public Employees Retirement System now owns 100,658 shares of the basic materials company’s stock worth $39,674,000 after acquiring an additional 2,988 shares in the last quarter. Future Fund LLC increased its stake in Carpenter Technology by 50.5% in the first quarter. Future Fund LLC now owns 8,253 shares of the basic materials company’s stock valued at $3,253,000 after purchasing an additional 2,769 shares during the last quarter. Bauman Advisory Group LLC acquired a new stake in Carpenter Technology during the first quarter worth approximately $471,000. SteelPeak Wealth LLC acquired a new stake in Carpenter Technology during the first quarter worth approximately $2,593,000. Finally, Gaddis Premier Wealth Advisors LLC acquired a new position in shares of Carpenter Technology in the 1st quarter valued at $865,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRS. BTIG Research boosted their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research report on Tuesday. TD Cowen upped their target price on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, KeyCorp lifted their price target on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of “Buy” and an average price target of $556.75.

Insider Buying and Selling at Carpenter Technology

In related news, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director directly owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by company insiders.

Carpenter Technology Stock Up 0.4%

Carpenter Technology stock opened at $556.52 on Friday. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The stock has a 50 day moving average of $525.05 and a two-hundred day moving average of $430.40. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $27.65 billion, a price-to-earnings ratio of 58.58, a PEG ratio of 1.56 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last released its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 earnings per share. As a group, research analysts expect that Carpenter Technology Corporation will post 10.57 earnings per share 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.