D.A. Davidson & CO. Makes New $1.34 Million Investment in Carpenter Technology Corporation $CRS

D.A. Davidson & CO. bought a new stake in Carpenter Technology Corporation (NYSE:CRS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 3,406 shares of the basic materials company’s stock, valued at approximately $1,342,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology during the second quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Carpenter Technology in the 1st quarter worth about $30,000. SJS Investment Consulting Inc. grew its position in Carpenter Technology by 81.8% in 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 in the last quarter. Spire Wealth Management increased its stake in Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after buying an additional 84 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Carpenter Technology in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Activity

In other Carpenter Technology news, 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 completion of the transaction, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anastasios John Hart sold 750 shares of the stock in a transaction dated Monday, May 4th. The stock was 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 position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CRS shares. Susquehanna boosted their target price on Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Wells Fargo & Company raised their target price on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, KeyCorp boosted their price target on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Buy” and an average target price of $556.75.

Carpenter Technology Stock Performance

Shares of CRS opened at $589.03 on Thursday. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $625.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The stock’s fifty day moving average price is $533.86 and its two-hundred day moving average price is $436.67. The firm has a market cap of $29.27 billion, a PE ratio of 62.00, a PEG ratio of 1.66 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same quarter in the prior year, the company earned $1.88 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Carpenter Technology Corporation will post 10.58 EPS for the current year.

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.