D.A. Davidson & CO. Invests $1.34 Million in Carpenter Technology Corporation $CRS

D.A. Davidson & CO. purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,406 shares of the basic materials company’s stock, valued at approximately $1,342,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRS. Meeder Advisory Services Inc. raised its stake in shares of Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 32 shares during the last quarter. Abel Hall LLC grew its stake in shares of Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC increased its holdings in Carpenter Technology by 2.4% in the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 33 shares during the period. Northwestern Mutual Investment Management Company LLC increased its holdings in Carpenter Technology by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after purchasing an additional 34 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 36 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology 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 transaction, the director owned 750 shares of the company’s stock, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Stock Up 0.0%

Shares of NYSE:CRS opened at $589.03 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The business’s 50 day simple moving average is $533.86 and its two-hundred day simple moving average is $436.67. The firm has a market cap of $29.27 billion, a P/E ratio of 62.00, a PEG ratio of 1.66 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) 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 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.88 EPS. As a group, research analysts forecast that Carpenter Technology Corporation will post 10.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on CRS shares. KeyCorp lifted their target price on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. Wells Fargo & Company increased their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Buy” and a consensus price target of $556.75.

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.