Bauman Advisory Group LLC Takes Position in Carpenter Technology Corporation $CRS

Bauman Advisory Group LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,194 shares of the basic materials company’s stock, valued at approximately $471,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC acquired a new position in Carpenter Technology during the first quarter worth $2,593,000. Gaddis Premier Wealth Advisors LLC acquired a new stake in shares of Carpenter Technology in the 1st quarter worth $865,000. Regency Capital Management Inc. DE acquired a new stake in shares of Carpenter Technology in the 1st quarter worth $2,261,000. D.A. Davidson & CO. purchased a new position in shares of Carpenter Technology during the 1st quarter worth $1,342,000. Finally, Twin Capital Management Inc. raised its holdings in shares of Carpenter Technology by 2.5% during the 1st quarter. Twin Capital Management Inc. now owns 3,320 shares of the basic materials company’s stock worth $1,309,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Activity

In other news, 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 value of $5,214,668.40. Following the sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 750 shares in the company, valued at approximately $317,895. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $553.85 on Friday. The firm has a market cap of $27.52 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98. The business’s fifty day simple moving average is $522.47 and its 200-day simple moving average is $429.51.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $655.60 million during 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. Equities analysts forecast that Carpenter Technology Corporation will post 10.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRS shares. Wells Fargo & Company upped their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen boosted their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday. BTIG Research increased their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $556.75.

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.