Dimensional Fund Advisors LP Reduces Holdings in Carpenter Technology Corporation $CRS

Dimensional Fund Advisors LP decreased its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 44.3% during the first quarter, HoldingsChannel reports. The firm owned 456,701 shares of the basic materials company’s stock after selling 363,066 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Carpenter Technology were worth $179,948,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Carpenter Technology in the first quarter worth about $30,000. SJS Investment Consulting Inc. grew its holdings in shares of Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $28,000. Spire Wealth Management raised its position in shares of Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 84 shares in the last quarter. Finally, Longview Financial Advisors Inc. bought a new position in shares of Carpenter Technology in the 1st quarter worth approximately $55,000. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In related news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 of the company’s stock, valued at $8,096,307.84. This trade represents a 39.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction 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 transaction, the director owned 750 shares of the company’s stock, valued at $317,895. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 0.4%

NYSE:CRS opened at $603.70 on Friday. The firm has a market capitalization of $30.00 billion, a P/E ratio of 63.55, a PEG ratio of 1.70 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 one year low of $228.00 and a one year high of $625.98. The company’s 50-day simple moving average is $541.18 and its 200 day simple moving average is $439.66.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same quarter last year, the firm earned $1.88 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Carpenter Technology Corporation will post 10.58 EPS for the current fiscal year.

Analyst Ratings Changes

CRS has been the subject of a number of research analyst reports. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Susquehanna upped their price target on Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research note on Thursday, July 9th. Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. TD Cowen increased their price objective on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Carpenter Technology has a consensus rating of “Buy” and an average target price of $556.75.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.