Carpenter Technology Corporation $CRS Shares Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,735 shares of the basic materials company’s stock after purchasing an additional 1,284 shares during the period. Carpenter Technology comprises about 2.7% of Chase Investment Counsel Corp’s portfolio, making the stock its 7th biggest position. Chase Investment Counsel Corp’s holdings in Carpenter Technology were worth $10,143,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CRS. Whittier Trust Co. of Nevada Inc. purchased a new stake in Carpenter Technology during the 1st quarter worth approximately $30,000. SJS Investment Consulting Inc. lifted its holdings in Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after buying an additional 36 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Carpenter Technology in the 2nd quarter valued at approximately $28,000. Hollencrest Capital Management purchased a new position in Carpenter Technology in the 1st quarter valued at approximately $52,000. Finally, Spire Wealth Management boosted its position in Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp boosted their price target on shares of Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Susquehanna increased their price objective on Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. Wells Fargo & Company boosted their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Carpenter Technology currently has a consensus rating of “Buy” and a consensus target price of $556.75.

Insiders Place Their Bets

In other news, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the business’s stock in a transaction 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 transaction, the director owned 750 shares of the company’s stock, valued at approximately $317,895. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Stock Up 5.9%

Shares of NYSE:CRS opened at $587.97 on Wednesday. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The firm’s 50 day moving average price is $530.80 and its 200 day moving average price is $434.74. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 61.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS 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 quarter in the previous year, the business posted $1.88 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that Carpenter Technology Corporation will post 10.58 earnings per share 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.