Carpenter Technology Corporation $CRS Shares Sold by Whitaker Myers Wealth Managers LTD.

Whitaker Myers Wealth Managers LTD. lowered its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 20.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,166 shares of the basic materials company’s stock after selling 1,077 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Carpenter Technology were worth $2,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in Carpenter Technology in the 2nd quarter worth about $28,000. 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. raised its holdings in shares of Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 36 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Carpenter Technology during the second quarter valued at approximately $43,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Susquehanna reduced their price objective on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. KeyCorp decreased their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology currently has a consensus rating of “Buy” and an average target price of $577.25.

Carpenter Technology Stock Up 2.3%

CRS stock opened at $569.98 on Friday. The company has a market cap of $28.32 billion, a price-to-earnings ratio of 54.18, a PEG ratio of 2.07 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. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98. The firm has a 50-day moving average of $563.62 and a two-hundred day moving average of $455.03.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.14. The business had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. As a group, analysts forecast that Carpenter Technology Corporation will post 12.92 earnings per share for the current fiscal 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.