Carpenter Technology Corporation $CRS Holdings Reduced by Advent International L.P.

Advent International L.P. reduced its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 30.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 236,729 shares of the basic materials company’s stock after selling 104,453 shares during the period. Carpenter Technology makes up approximately 2.2% of Advent International L.P.’s portfolio, making the stock its 7th biggest holding. Advent International L.P. owned 0.48% of Carpenter Technology worth $93,307,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in Carpenter Technology in the second quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Carpenter Technology during the first quarter worth approximately $30,000. SJS Investment Consulting Inc. grew its holdings in Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares during the period. Spire Wealth Management increased its position in shares of Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after buying an additional 84 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Carpenter Technology in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anastasios John Hart sold 750 shares of the stock in a transaction that occurred on 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 transaction, the director owned 750 shares of the company’s stock, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRS shares. Susquehanna boosted their price target on shares of Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. KeyCorp lifted their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, TD Cowen raised their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $556.75.

Carpenter Technology Price Performance

NYSE:CRS opened at $603.70 on Monday. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98. The stock has a market cap of $30.00 billion, a PE ratio of 63.55, a P/E/G ratio of 1.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The stock has a 50 day moving average price of $541.18 and a 200 day moving average price of $440.36.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The company 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 firm’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. Equities research analysts expect that Carpenter Technology Corporation will post 10.58 EPS for the current fiscal year.

Carpenter Technology 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.