Chicago Partners Investment Group LLC Purchases Shares of 1,692 Carpenter Technology Corporation $CRS

Chicago Partners Investment Group LLC acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) during the 1st quarter, Holdings Channel reports. The firm acquired 1,692 shares of the basic materials company’s stock, valued at approximately $717,000.

A number of other hedge funds have also recently made changes to their positions in the business. Woodline Partners LP purchased a new stake in Carpenter Technology in the 1st quarter worth $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Carpenter Technology by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after acquiring an additional 1,701 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Carpenter Technology by 7.3% in the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 314 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Carpenter Technology in the second quarter valued at $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Carpenter Technology in the second quarter valued at $533,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 0.4%

Shares of CRS opened at $556.52 on Friday. The company has a market cap of $27.65 billion, a PE ratio of 58.58, a P/E/G ratio of 1.56 and a beta of 1.22. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The business has a fifty day moving average of $525.05 and a 200 day moving average of $430.40. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data 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 company had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.Carpenter Technology’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 EPS. On average, sell-side analysts expect that Carpenter Technology Corporation will post 10.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CRS shares. KeyCorp upped their price target on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. BTIG Research boosted their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Zacks Research upgraded shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a research report on Thursday, April 30th. Finally, Susquehanna lifted their price target on Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Buy” and an average target price of $556.75.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction dated 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 transaction, the vice president owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

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