Fifth Third Bancorp Has $6.05 Million Stake in Carpenter Technology Corporation $CRS

Fifth Third Bancorp lifted its position in Carpenter Technology Corporation (NYSE:CRS) by 3,058.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,348 shares of the basic materials company’s stock after buying an additional 14,862 shares during the quarter. Fifth Third Bancorp’s holdings in Carpenter Technology were worth $6,049,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CRS. Hsbc Holdings PLC raised its position in Carpenter Technology by 1.5% during the first quarter. Hsbc Holdings PLC now owns 4,681 shares of the basic materials company’s stock valued at $1,849,000 after acquiring an additional 67 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Carpenter Technology in the first quarter valued at approximately $60,000. Roman Butler Fullerton & Co. grew its position in Carpenter Technology by 16.7% in the first quarter. Roman Butler Fullerton & Co. now owns 5,305 shares of the basic materials company’s stock worth $2,270,000 after acquiring an additional 760 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Carpenter Technology in the first quarter worth approximately $1,784,000. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Carpenter Technology by 2.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,197 shares of the basic materials company’s stock worth $4,019,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Buying and Selling at Carpenter Technology

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

Carpenter Technology Price Performance

NYSE CRS opened at $553.85 on Friday. The stock has a 50-day simple moving average of $522.47 and a 200 day simple moving average of $429.51. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The stock has a market capitalization of $27.52 billion, a PE ratio of 58.30, a P/E/G ratio of 1.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. During the same period in the previous year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts anticipate that Carpenter Technology Corporation will post 10.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CRS shares. TD Cowen raised their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 price objective on shares of Carpenter Technology in a report on Thursday, April 30th. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. BTIG Research raised their target price on Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price target on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $556.75.

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.