Cwm LLC Purchases 398 Shares of Carpenter Technology Corporation (NYSE:CRS)

Cwm LLC raised its position in Carpenter Technology Corporation (NYSE:CRS) by 23.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,130 shares of the basic materials company’s stock after purchasing an additional 398 shares during the period. Cwm LLC’s holdings in Carpenter Technology were worth $386,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CRS. Bessemer Group Inc. increased its position in shares of Carpenter Technology by 50.3% during the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 77 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Carpenter Technology during the fourth quarter worth $44,000. CIBC Private Wealth Group LLC increased its position in shares of Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 127 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Carpenter Technology by 27.3% during the first quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 77 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Carpenter Technology by 54.9% during the first quarter. UMB Bank n.a. now owns 471 shares of the basic materials company’s stock worth $85,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $276.54 on Friday. The stock has a market cap of $13.77 billion, a P/E ratio of 39.17, a P/E/G ratio of 0.90 and a beta of 1.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.75 and a quick ratio of 1.89. The company has a fifty day moving average price of $259.14 and a two-hundred day moving average price of $215.16. Carpenter Technology Corporation has a one year low of $119.69 and a one year high of $290.84.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.14. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $729.67 million. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 earnings per share. As a group, equities analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology announced that its board has initiated a share repurchase program on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Northcoast Research raised shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Benchmark increased their price target on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $278.33.

Insider Transactions at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the completion of the sale, the director owned 6,732 shares in the company, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anastasios John Hart sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $243.72, for a total transaction of $243,720.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

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.