Carpenter Technology Corporation (NYSE:CRS) Stock Holdings Lessened by Emerald Advisers LLC

Emerald Advisers LLC cut its stake in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,396 shares of the basic materials company's stock after selling 17,467 shares during the quarter. Carpenter Technology accounts for 1.6% of Emerald Advisers LLC's portfolio, making the stock its 13th largest holding. Emerald Advisers LLC owned 0.40% of Carpenter Technology worth $35,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. FMR LLC boosted its stake in shares of Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock worth $754,295,000 after acquiring an additional 979,313 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Carpenter Technology by 30.3% during the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock worth $260,884,000 after acquiring an additional 357,417 shares in the last quarter. SurgoCap Partners LP boosted its stake in shares of Carpenter Technology by 117.6% during the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock worth $244,734,000 after acquiring an additional 779,357 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Carpenter Technology by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock worth $193,279,000 after acquiring an additional 38,411 shares in the last quarter. Finally, Third Point LLC boosted its stake in shares of Carpenter Technology by 31.8% during the 4th quarter. Third Point LLC now owns 870,000 shares of the basic materials company's stock worth $147,648,000 after acquiring an additional 210,000 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Up 0.4%

Carpenter Technology stock opened at $277.76 on Friday. The company's fifty day simple moving average is $247.00 and its 200-day simple moving average is $208.21. The company has a quick ratio of 1.89, a current ratio of 3.75 and a debt-to-equity ratio of 0.39. Carpenter Technology Corporation has a 12 month low of $113.53 and a 12 month high of $282.99. The stock has a market cap of $13.83 billion, a P/E ratio of 39.34, a P/E/G ratio of 0.92 and a beta of 1.39.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a net margin of 12.26% and a return on equity of 21.16%. The business had revenue of $727.00 million for the quarter, compared to analysts' expectations of $729.67 million. During the same period in the previous year, the company posted $1.19 EPS. Carpenter Technology's revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology announced that its board has initiated a stock repurchase plan on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Carpenter Technology

In other news, Director Anastasios John Hart sold 1,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $243.72, for a total transaction of $243,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director I Martin Inglis sold 3,433 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the transaction, the director owned 6,732 shares in the company, valued at approximately $1,330,647.12. This represents a 33.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRS shares. Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, Benchmark raised their price objective on shares of Carpenter Technology from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $278.33.

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.

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