Emerald Mutual Fund Advisers Trust Sells 12,251 Shares of Carpenter Technology Corporation (NYSE:CRS)

Emerald Mutual Fund Advisers Trust lowered its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,112 shares of the basic materials company's stock after selling 12,251 shares during the period. Carpenter Technology accounts for 1.6% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 16th largest holding. Emerald Mutual Fund Advisers Trust owned 0.24% of Carpenter Technology worth $21,943,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of Carpenter Technology by 50.3% during the first quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock worth $42,000 after buying an additional 77 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Carpenter Technology during the fourth quarter worth $44,000. CIBC Private Wealth Group LLC lifted its position in shares of Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Versant Capital Management Inc boosted its stake in Carpenter Technology by 27.3% during the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after acquiring an additional 77 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Carpenter Technology by 54.9% during the 1st quarter. UMB Bank n.a. now owns 471 shares of the basic materials company's stock valued at $85,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.

Insiders Place Their Bets

In other Carpenter Technology 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 value of $243,720.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the sale, the director directly owned 6,732 shares in the company, valued at $1,330,647.12. This trade represents a 33.77% decrease in their position. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Stock Up 0.2%

CRS stock traded up $0.57 during trading hours on Tuesday, hitting $279.00. The company's stock had a trading volume of 818,415 shares, compared to its average volume of 816,447. The company has a quick ratio of 1.89, a current ratio of 3.75 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $13.89 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39. Carpenter Technology Corporation has a 12 month low of $113.53 and a 12 month high of $283.55. The stock has a 50 day moving average price of $247.00 and a two-hundred day moving average price of $208.44.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $729.67 million. During the same period in the previous year, the company earned $1.19 earnings per share. Carpenter Technology's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts expect that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology announced that its Board of Directors has approved a share repurchase program on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CRS shares. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Benchmark lifted their target price on shares of Carpenter Technology from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research report on Thursday, June 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average 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.