Campbell & CO Investment Adviser LLC Buys New Stake in Carpenter Technology Corporation $CRS

Campbell & CO Investment Adviser LLC purchased a new position in Carpenter Technology Corporation (NYSE:CRS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,591 shares of the basic materials company’s stock, valued at approximately $1,373,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Woodline Partners LP bought a new stake in shares of Carpenter Technology in the first quarter worth about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 buying an additional 1,701 shares in the last quarter. Focus Partners Wealth increased its stake in Carpenter Technology by 7.3% in the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock worth $836,000 after acquiring an additional 314 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $235,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Carpenter Technology by 5.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,804 shares of the basic materials company’s stock valued at $4,698,000 after acquiring an additional 851 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $335.20 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44. The firm has a market cap of $16.70 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The firm’s 50 day simple moving average is $322.67 and its 200-day simple moving average is $283.00. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $348.99.

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

Wall Street Analyst Weigh In

CRS has been the topic of several research reports. Jones Trading initiated coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price target on the stock. KeyCorp raised shares of 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. BTIG Research upped their target price on shares of Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Zacks Research downgraded shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, TD Cowen lifted their price target on Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $371.14.

Insider Activity

In related news, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the sale, the vice president directly owned 9,594 shares of the company’s stock, valued at $3,082,072.50. This represents a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian J. Malloy sold 4,130 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $303.52, for a total transaction of $1,253,537.60. Following the transaction, the chief operating officer directly owned 78,875 shares in the company, valued at $23,940,140. This trade represents a 4.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,358 shares of company stock valued at $24,254,008 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

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.