Castleark Management LLC Sells 980 Shares of Carpenter Technology Corporation $CRS

Castleark Management LLC reduced its position in Carpenter Technology Corporation (NYSE:CRS) by 38.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,600 shares of the basic materials company’s stock after selling 980 shares during the quarter. Castleark Management LLC’s holdings in Carpenter Technology were worth $631,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRS. Jennison Associates LLC bought a new position in shares of Carpenter Technology during the first quarter valued at approximately $317,411,000. Sands Capital Management LLC bought a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $195,731,000. Norges Bank bought a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $195,254,000. TOMS Capital Investment Management LP purchased a new position in Carpenter Technology during the 2nd quarter valued at $106,683,000. Finally, UBS Group AG boosted its holdings in Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after acquiring an additional 382,865 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 4.0%

Shares of NYSE CRS opened at $579.52 on Tuesday. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $28.80 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22. The stock’s fifty day simple moving average is $544.68 and its two-hundred day simple moving average is $442.08. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $625.98.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results 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 business had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.88 EPS. As a group, analysts expect that Carpenter Technology Corporation will post 10.58 EPS for the current fiscal year.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, 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 value of $317,895.00. Following the completion of the transaction, the director directly owned 750 shares in the company, valued at approximately $317,895. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the 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 sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. The trade was 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 company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on CRS shares. KeyCorp upped their price objective on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. BTIG Research boosted their target price on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Susquehanna raised their price target on shares of Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company raised their price target on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Carpenter Technology has an average rating of “Buy” and a consensus target price of $556.75.

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.