Xponance Inc. Buys 202 Shares of Carpenter Technology Corporation (NYSE:CRS)

Xponance Inc. lifted its stake in Carpenter Technology Corporation (NYSE:CRS) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,048 shares of the basic materials company’s stock after acquiring an additional 202 shares during the period. Xponance Inc.’s holdings in Carpenter Technology were worth $1,277,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. M&T Bank Corp raised its position in shares of Carpenter Technology by 3.9% in the 1st quarter. M&T Bank Corp now owns 1,541 shares of the basic materials company’s stock worth $279,000 after acquiring an additional 58 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Carpenter Technology by 11.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 71 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Carpenter Technology by 27.3% in the 1st 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. Bessemer Group Inc. raised its position in shares of Carpenter Technology by 50.3% in the 1st 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. Finally, Mission Wealth Management LP raised its position in shares of Carpenter Technology by 4.0% in the 1st quarter. Mission Wealth Management LP now owns 2,008 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 78 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 1,000 shares of Carpenter Technology 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director I Martin Inglis sold 3,433 shares of Carpenter Technology stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total value of $678,566.78. Following the sale, the director directly owned 6,732 shares of the company’s stock, valued at approximately $1,330,647.12. This represents a 33.77% decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Carpenter Technology Stock Up 0.2%

Shares of CRS stock opened at $279.00 on Wednesday. Carpenter Technology Corporation has a 1-year low of $115.52 and a 1-year high of $282.99. The stock’s fifty day moving average price is $249.76 and its 200 day moving average price is $209.68. 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 market cap of $13.89 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 21.16% and a net margin of 12.26%. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $729.67 million. During the same period in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

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

About Carpenter Technology

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.