Blair William & Co. IL Acquires 300 Shares of Carpenter Technology Corporation (NYSE:CRS)

Blair William & Co. IL increased its holdings in Carpenter Technology Corporation (NYSE:CRS) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,100 shares of the basic materials company’s stock after purchasing an additional 300 shares during the period. Blair William & Co. IL’s holdings in Carpenter Technology were worth $743,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Alberta Investment Management Corp increased its position in Carpenter Technology by 16.8% during the first quarter. Alberta Investment Management Corp now owns 31,586 shares of the basic materials company’s stock valued at $5,723,000 after acquiring an additional 4,537 shares during the last quarter. Natixis Advisors LLC increased its position in Carpenter Technology by 36.5% during the first quarter. Natixis Advisors LLC now owns 22,333 shares of the basic materials company’s stock valued at $4,046,000 after acquiring an additional 5,969 shares during the last quarter. Baader Bank Aktiengesellschaft increased its position in Carpenter Technology by 28.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 6,989 shares of the basic materials company’s stock valued at $1,262,000 after acquiring an additional 1,559 shares during the last quarter. Dearborn Partners LLC increased its position in Carpenter Technology by 5.8% during the first quarter. Dearborn Partners LLC now owns 2,950 shares of the basic materials company’s stock valued at $534,000 after acquiring an additional 163 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Carpenter Technology during the first quarter valued at $1,214,000. Institutional investors own 92.03% of the company’s stock.

Insider Activity at Carpenter Technology

In related news, Director Anastasios John Hart sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $243.72, for a total value of $243,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRS. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a research report on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. BTIG Research reiterated a “buy” rating on shares of Carpenter Technology in a research report on Monday, August 4th. Finally, Benchmark boosted their price objective on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, June 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.33.

Carpenter Technology Trading Down 2.3%

NYSE CRS opened at $248.62 on Monday. The company’s 50-day moving average price is $264.76 and its 200-day moving average price is $219.74. The company has a current ratio of 3.65, a quick ratio of 2.01 and a debt-to-equity ratio of 0.37. The stock has a market cap of $12.38 billion, a PE ratio of 33.51, a PEG ratio of 1.15 and a beta of 1.44. Carpenter Technology Corporation has a 12 month low of $129.57 and a 12 month high of $290.84.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. The firm had revenue of $755.60 million for the quarter, compared to analysts’ expectations of $790.73 million. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. Equities research analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology announced that its board has authorized a share buyback program on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.