Quantinno Capital Management LP Has $3.63 Million Stock Holdings in Carpenter Technology Corporation $CRS

Quantinno Capital Management LP lifted its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,213 shares of the basic materials company's stock after purchasing an additional 2,074 shares during the period. Quantinno Capital Management LP's holdings in Carpenter Technology were worth $3,631,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Carpenter Technology during the 1st quarter worth approximately $30,000. SJS Investment Consulting Inc. increased its stake in shares of Carpenter Technology by 81.8% in the 1st 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at $43,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Carpenter Technology during the 2nd quarter valued at $45,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CRS shares. Weiss Ratings lowered shares of Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. Susquehanna cut their price objective on shares of Carpenter Technology from $680.00 to $600.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. KeyCorp reduced their target price on Carpenter Technology from $644.00 to $608.00 and set an "overweight" rating for the company in a research note on Monday. Finally, 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. One research 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. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $577.25.

Carpenter Technology Price Performance

CRS stock opened at $569.98 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The business has a 50-day simple moving average of $563.62 and a two-hundred day simple moving average of $455.03. The company has a market capitalization of $28.32 billion, a P/E ratio of 54.18, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $3.09 by $0.14. The business had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.Carpenter Technology's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Research analysts expect that Carpenter Technology Corporation will post 12.92 EPS 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.

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