Carpenter Technology Corporation $CRS Shares Purchased by Dorsey Wright & Associates

Dorsey Wright & Associates increased its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 53.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,932 shares of the basic materials company’s stock after buying an additional 20,920 shares during the quarter. Carpenter Technology comprises 2.9% of Dorsey Wright & Associates’ holdings, making the stock its 6th largest position. Dorsey Wright & Associates owned 0.12% of Carpenter Technology worth $23,622,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP acquired a new stake in shares of Carpenter Technology in the 1st quarter worth $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Carpenter Technology by 1.7% during the 1st 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 valued at $18,985,000 after acquiring an additional 1,701 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Carpenter Technology by 7.3% in 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 in the second quarter valued at about $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Carpenter Technology in the second quarter valued at about $533,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Transactions at Carpenter Technology

In other news, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the transaction, the director 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by company insiders.

Carpenter Technology Stock Up 0.4%

Carpenter Technology stock opened at $556.52 on Friday. The firm has a market capitalization of $27.65 billion, a P/E ratio of 58.58, a P/E/G ratio of 1.56 and a beta of 1.22. 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 Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The stock’s fifty day simple moving average is $525.05 and its 200-day simple moving average is $430.40.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CRS. TD Cowen lifted 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. 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Susquehanna lifted their price target on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. One equities research 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 company. According to data from MarketBeat.com, the company presently 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.