Nisa Investment Advisors LLC Increases Holdings in Carpenter Technology Corporation $CRS

Nisa Investment Advisors LLC grew its holdings in Carpenter Technology Corporation (NYSE:CRS) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,358 shares of the basic materials company’s stock after buying an additional 1,771 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Carpenter Technology were worth $3,525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Carpenter Technology by 15.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 550,055 shares of the basic materials company’s stock worth $138,328,000 after purchasing an additional 71,872 shares during the period. William Blair Investment Management LLC bought a new stake in Carpenter Technology during the 2nd quarter valued at approximately $134,790,000. Raymond James Financial Inc. raised its position in shares of Carpenter Technology by 244.3% in the 2nd quarter. Raymond James Financial Inc. now owns 411,277 shares of the basic materials company’s stock worth $113,669,000 after acquiring an additional 291,829 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Carpenter Technology by 10.9% in the 2nd quarter. Franklin Resources Inc. now owns 393,039 shares of the basic materials company’s stock valued at $108,628,000 after purchasing an additional 38,699 shares during the period. Finally, TOMS Capital Investment Management LP bought a new position in Carpenter Technology in the second quarter worth $106,683,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

CRS opened at $322.38 on Tuesday. The company has a current ratio of 4.44, a quick ratio of 2.37 and a debt-to-equity ratio of 0.36. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $348.99. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 1.37 and a beta of 1.29. The company’s 50 day moving average is $321.58 and its 200 day moving average is $281.51.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm had revenue of $733.70 million during the quarter, compared to the consensus estimate of $741.18 million. During the same quarter in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Insiders Place Their Bets

In related news, VP Elizabeth A. Socci sold 3,900 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the sale, the vice president owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian J. Malloy sold 4,130 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $303.52, for a total value of $1,253,537.60. Following the completion of the transaction, the chief operating officer directly owned 78,875 shares in the company, valued at approximately $23,940,140. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,358 shares of company stock valued at $24,254,008 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRS. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a report on Thursday, October 30th. Zacks Research downgraded Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. TD Cowen boosted their target price on Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 24th. KeyCorp upgraded Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a report on Thursday, November 13th. Finally, Jones Trading began coverage on shares of Carpenter Technology in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $371.14.

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.