Gaddis Premier Wealth Advisors LLC Invests $865,000 in Carpenter Technology Corporation $CRS

Key Points

• Gaddis Premier Wealth Advisors bought a new stake in Carpenter Technology during the first quarter, purchasing 2,195 shares valued at about $865,000.
• Carpenter Technology reported Q1 EPS of $2.77, topping analyst estimates, though revenue of $655.6 million came in below expectations. Revenue still rose 11.6% year over year.
• Wall Street remains broadly upbeat on CRS, with a consensus Buy rating and an average price target of $556.75; several firms recently raised targets, including Susquehanna to $680.

Gaddis Premier Wealth Advisors LLC purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,195 shares of the basic materials company's stock, valued at approximately $865,000.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in shares of Carpenter Technology by 334.3% during the 4th quarter. Covestor Ltd now owns 3,492 shares of the basic materials company's stock valued at $1,099,000 after buying an additional 2,688 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Carpenter Technology by 127.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,141 shares of the basic materials company's stock worth $1,619,000 after acquiring an additional 2,883 shares during the last quarter. Renaissance Investment Group LLC acquired a new position in Carpenter Technology in the fourth quarter valued at approximately $8,141,000. Peregrine Asset Advisers Inc. acquired a new position in Carpenter Technology in the fourth quarter valued at approximately $4,062,000. Finally, UBS Group AG grew its holdings in shares of Carpenter Technology by 171.2% during the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company's stock valued at $190,951,000 after purchasing an additional 382,865 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $553.85 on Friday. The stock has a market cap of $27.52 billion, a P/E ratio of 58.30, a P/E/G ratio of 1.62 and a beta of 1.22. The firm's 50-day simple moving average is $522.47 and its 200 day simple moving average is $429.51. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating 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 firm had revenue of $655.60 million for the quarter, compared to analysts' expectations of $797.00 million. During the same quarter last year, the company earned $1.88 EPS. Carpenter Technology's quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Carpenter Technology Corporation will post 10.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRS. Susquehanna boosted their price objective on Carpenter Technology from $495.00 to $680.00 and gave the company a "positive" rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. BTIG Research upped their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings cut shares of Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Finally, KeyCorp boosted their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an "overweight" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of "Buy" and an average target price of $556.75.

Insider Activity at Carpenter Technology

In related news, Director Anastasios John Hart sold 750 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director owned 750 shares in the company, valued at $317,895. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president directly owned 18,344 shares in the company, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company's stock.

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.

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