Temasek Holdings Private Ltd Sells 30,169 Shares of Carpenter Technology Corporation $CRS

Temasek Holdings Private Ltd lessened its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 73.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,833 shares of the basic materials company’s stock after selling 30,169 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Carpenter Technology were worth $4,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in shares of Carpenter Technology by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 138,876 shares of the basic materials company’s stock worth $54,738,000 after acquiring an additional 5,461 shares in the last quarter. Titan Global Capital Management USA LLC lifted its holdings in shares of Carpenter Technology by 2.2% during the 1st quarter. Titan Global Capital Management USA LLC now owns 12,682 shares of the basic materials company’s stock valued at $4,998,000 after purchasing an additional 274 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Carpenter Technology during the 1st quarter valued at about $52,000. WCM Investment Management LLC grew its position in shares of Carpenter Technology by 10.2% in the 1st quarter. WCM Investment Management LLC now owns 478,314 shares of the basic materials company’s stock valued at $177,316,000 after purchasing an additional 44,400 shares during the period. Finally, Balefire LLC acquired a new position in shares of Carpenter Technology in the 1st quarter valued at approximately $252,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Susquehanna increased their price objective on shares of Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research report on Thursday, July 9th. Finally, Zacks Research upgraded shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Buy” and an average target price of $556.75.

Insider Buying and Selling

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

Carpenter Technology Stock Up 5.9%

CRS stock opened at $587.97 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The stock has a market capitalization of $29.22 billion, a P/E ratio of 61.89, a P/E/G ratio of 1.56 and a beta of 1.22. The business has a 50-day moving average of $530.80 and a 200-day moving average of $434.74. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same period last year, the company earned $1.88 earnings per share. Carpenter Technology’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Carpenter Technology Corporation will post 10.58 earnings per share for the current fiscal 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.