Quantinno Capital Management LP Boosts Stock Position in Carpenter Technology Corporation $CRS

Quantinno Capital Management LP raised its holdings in Carpenter Technology Corporation (NYSE:CRS) by 29.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,213 shares of the basic materials company’s stock after purchasing an additional 2,074 shares during the quarter. Quantinno Capital Management LP’s holdings in Carpenter Technology were worth $3,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Woodline Partners LP bought a new position in Carpenter Technology during the first quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Carpenter Technology by 1.7% in 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 valued at $18,985,000 after acquiring an additional 1,701 shares during the last quarter. Focus Partners Wealth grew its position in shares of Carpenter Technology by 7.3% during the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 314 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $533,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Susquehanna dropped their price objective on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. TD Cowen boosted their target price on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Zacks Research raised Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, KeyCorp cut their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research note on Monday. One 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $577.25.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $569.98 on Friday. The stock has a market capitalization of $28.32 billion, a P/E ratio of 54.18, a PEG ratio of 2.02 and a beta of 1.25. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $563.62 and its 200 day moving average is $455.03. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. During the same period in the previous year, the business earned $2.21 EPS. Carpenter Technology’s revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Carpenter Technology Corporation will post 12.92 earnings per share for the current year.

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.