Emerald Advisers LLC Has $24.48 Million Position in Carpenter Technology Corporation $CRS

Emerald Advisers LLC cut its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 32.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,100 shares of the basic materials company’s stock after selling 30,348 shares during the period. Emerald Advisers LLC owned about 0.12% of Carpenter Technology worth $24,477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the 2nd quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Carpenter Technology during the first quarter worth $30,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carpenter Technology by 81.8% during the first 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 during the period. Armstrong Advisory Group Inc. grew its stake in shares of Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 84 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRS shares. KeyCorp increased their price objective on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Wells Fargo & Company lifted their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. BTIG Research upped their price target on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, TD Cowen raised their price objective on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $527.38.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, 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 completion of the sale, the director directly owned 750 shares in the company, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Down 2.1%

Shares of NYSE CRS opened at $566.58 on Tuesday. The company’s 50 day moving average price is $515.33 and its 200-day moving average price is $424.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The company has a market capitalization of $28.15 billion, a P/E ratio of 59.64, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data 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 net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. During the same period in the prior year, the company posted $1.88 earnings per share. Carpenter Technology’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that Carpenter Technology Corporation will post 10.56 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. Carpenter Technology’s dividend payout ratio is 8.42%.

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.