Kennedy Capital Management LLC Sells 8,051 Shares of Carpenter Technology Co. (NYSE:CRS)

Kennedy Capital Management LLC decreased its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,265 shares of the basic materials company’s stock after selling 8,051 shares during the quarter. Kennedy Capital Management LLC owned about 0.21% of Carpenter Technology worth $7,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRS. Cape Investment Advisory Inc. acquired a new position in Carpenter Technology in the 4th quarter valued at approximately $29,000. Whittier Trust Co. acquired a new position in shares of Carpenter Technology in the first quarter valued at $30,000. Johnson Financial Group Inc. bought a new position in Carpenter Technology in the fourth quarter worth $31,000. Westend Capital Management LLC acquired a new stake in Carpenter Technology during the first quarter worth $36,000. Finally, Covestor Ltd boosted its stake in Carpenter Technology by 469.2% during the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after buying an additional 685 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of a number of analyst reports. Northcoast Research reaffirmed a “sell” rating and set a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th. BTIG Research upped their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen increased their price objective on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price on the stock. Finally, Benchmark lifted their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.60.

Insider Transactions at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $102.11, for a total value of $81,892.22. Following the transaction, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Elizabeth A. Socci sold 802 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $102.11, for a total value of $81,892.22. Following the sale, the vice president now directly owns 11,509 shares in the company, valued at approximately $1,175,183.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 31,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the transaction, the director now owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The disclosure for this sale can be found here. Insiders sold a total of 59,678 shares of company stock worth $6,261,693 in the last quarter. 3.40% of the stock is owned by company insiders.

Carpenter Technology Price Performance

CRS traded up $2.37 during midday trading on Wednesday, hitting $143.75. The company had a trading volume of 47,911 shares, compared to its average volume of 603,097. Carpenter Technology Co. has a twelve month low of $56.42 and a twelve month high of $144.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The firm’s 50-day simple moving average is $110.88 and its 200-day simple moving average is $87.67. The company has a market capitalization of $7.13 billion, a PE ratio of 53.80 and a beta of 1.44.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. The firm had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts predict that Carpenter Technology Co. will post 5.84 EPS 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.