Future Fund LLC Raises Stock Holdings in Carpenter Technology Corporation $CRS

Future Fund LLC increased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 50.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,253 shares of the basic materials company’s stock after acquiring an additional 2,769 shares during the period. Future Fund LLC’s holdings in Carpenter Technology were worth $3,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Woodline Partners LP bought a new position in Carpenter Technology in the 1st quarter valued at $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Carpenter Technology by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock worth $18,985,000 after purchasing an additional 1,701 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Carpenter Technology by 7.3% during the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 314 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Carpenter Technology during the second quarter valued at $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Carpenter Technology during the second quarter valued at $533,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CRS. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 price objective on shares of Carpenter Technology in a research report on Thursday, April 30th. TD Cowen upped their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday. Finally, KeyCorp raised their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. One 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. Based on data from MarketBeat, Carpenter Technology presently has an average rating of “Buy” and an average target price of $556.75.

Insider Activity

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were 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 approximately $317,895. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Price Performance

Shares of CRS stock opened at $556.52 on Friday. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The stock has a market capitalization of $27.65 billion, a price-to-earnings ratio of 58.58, a P/E/G ratio of 1.56 and a beta of 1.22. The stock has a fifty day simple moving average of $525.05 and a two-hundred day simple moving average of $430.40. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. On average, analysts predict that Carpenter Technology Corporation will post 10.57 EPS for the current fiscal year.

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.