Chicago Partners Investment Group LLC Buys Shares of 1,692 Carpenter Technology Corporation $CRS

Chicago Partners Investment Group LLC purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,692 shares of the basic materials company’s stock, valued at approximately $717,000.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after buying an additional 192,533 shares in the last quarter. Invesco Ltd. increased its position in shares of Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock valued at $652,241,000 after buying an additional 327,302 shares during the period. Egerton Capital UK LLP lifted its holdings in shares of Carpenter Technology by 13.0% in the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock worth $488,950,000 after buying an additional 178,679 shares in the last quarter. SurgoCap Partners LP boosted its position in shares of Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after acquiring an additional 272,896 shares during the period. Finally, Geode Capital Management LLC grew its stake in Carpenter Technology by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after acquiring an additional 78,588 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. Zacks Research raised Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday. KeyCorp boosted their target price on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Weiss Ratings lowered Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $556.75.

Insider Activity

In related news, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the sale, the director owned 750 shares in the company, valued at approximately $317,895. This trade represents 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 business’s stock in a transaction that occurred on 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 owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This trade represents a 39.18% 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 corporate insiders.

Carpenter Technology Trading Up 0.4%

Shares of NYSE CRS opened at $556.52 on Friday. The stock has a market cap of $27.65 billion, a P/E ratio of 58.58, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $625.98. The firm has a 50-day moving average of $525.05 and a 200 day moving average of $430.40.

Carpenter Technology (NYSE:CRS) last released its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 earnings per share. As a group, sell-side analysts expect that Carpenter Technology Corporation will post 10.57 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.