Bright Futures Wealth Management LLC. Takes $202,000 Position in Carpenter Technology Co. (NYSE:CRS)

Bright Futures Wealth Management LLC. purchased a new stake in Carpenter Technology Co. (NYSE:CRS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,833 shares of the basic materials company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in shares of Carpenter Technology by 91.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock valued at $1,799,000 after acquiring an additional 12,129 shares during the last quarter. Harvest Investment Services LLC acquired a new position in shares of Carpenter Technology in the 4th quarter valued at approximately $826,000. Consolidated Portfolio Review Corp acquired a new position in shares of Carpenter Technology in the 4th quarter valued at approximately $1,297,000. Phocas Financial Corp. acquired a new position in Carpenter Technology during the 4th quarter worth approximately $3,396,000. Finally, First Eagle Investment Management LLC boosted its position in Carpenter Technology by 13.2% during the 1st quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock worth $10,667,000 after acquiring an additional 17,400 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRS shares. TD Cowen upped their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective for the company. Benchmark increased their price target on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Northcoast Research reiterated a “sell” rating and set a $89.00 price objective on shares of Carpenter Technology in a research report on Friday, June 14th. Finally, BTIG Research increased their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Price Performance

NYSE:CRS traded down $7.84 during trading hours on Friday, hitting $136.10. The company’s stock had a trading volume of 778,496 shares, compared to its average volume of 809,804. The stock has a fifty day simple moving average of $112.89 and a 200-day simple moving average of $89.10. The company has a market capitalization of $6.75 billion, a P/E ratio of 51.75, a PEG ratio of 0.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84. Carpenter Technology Co. has a twelve month low of $56.42 and a twelve month high of $148.94.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts anticipate that Carpenter Technology Co. will post 5.84 EPS for the current fiscal year.

Insider Activity

In other news, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James D. Dee sold 23,518 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total value of $2,616,612.68. Following the transaction, the senior vice president now owns 84,798 shares of the company’s stock, valued at $9,434,625.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,678 shares of company stock valued at $3,144,023. 3.40% of the stock is currently owned by corporate insiders.

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.