Carpenter Technology Corporation $CRS Shares Sold by Tlwm

Tlwm cut its holdings in Carpenter Technology Corporation (NYSE:CRS) by 40.0% in the second quarter, Holdings Channel reports. The institutional investor owned 4,338 shares of the basic materials company’s stock after selling 2,890 shares during the quarter. Carpenter Technology accounts for 0.4% of Tlwm’s holdings, making the stock its 17th largest holding. Tlwm’s holdings in Carpenter Technology were worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Carpenter Technology during the 1st quarter valued at approximately $30,000. SJS Investment Consulting Inc. increased its holdings in Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Carpenter Technology in the 2nd quarter worth $28,000. Hollencrest Capital Management acquired a new position in Carpenter Technology during the first quarter worth $52,000. Finally, Longview Financial Advisors Inc. acquired a new position in Carpenter Technology during the first quarter worth $55,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRS. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. BTIG Research upped their price target on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Wells Fargo & Company lifted their price objective on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $577.25.

Carpenter Technology Price Performance

Shares of CRS stock opened at $571.46 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23. The company has a market capitalization of $28.40 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25. The firm’s 50-day moving average is $559.69 and its two-hundred day moving average is $452.65. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98.

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

Carpenter Technology 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.