Chase Investment Counsel Corp Buys 1,284 Shares of Carpenter Technology Corporation $CRS

Chase Investment Counsel Corp lifted its stake in Carpenter Technology Corporation (NYSE:CRS) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,735 shares of the basic materials company’s stock after purchasing an additional 1,284 shares during the quarter. Carpenter Technology comprises about 2.7% of Chase Investment Counsel Corp’s holdings, making the stock its 7th largest holding. Chase Investment Counsel Corp owned 0.05% of Carpenter Technology worth $10,143,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRS. Covestor Ltd boosted its position in shares of Carpenter Technology by 334.3% during the 4th quarter. Covestor Ltd now owns 3,492 shares of the basic materials company’s stock valued at $1,099,000 after acquiring an additional 2,688 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Carpenter Technology by 127.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,141 shares of the basic materials company’s stock valued at $1,619,000 after purchasing an additional 2,883 shares during the period. Peregrine Asset Advisers Inc. purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at about $4,062,000. Fiducient Advisors LLC acquired a new stake in Carpenter Technology during the fourth quarter worth about $916,000. Finally, UBS Group AG increased its position in Carpenter Technology by 171.2% during the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock worth $190,951,000 after purchasing an additional 382,865 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Transactions at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the company’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 completion of the transaction, the director owned 750 shares in the company, valued at approximately $317,895. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by company insiders.

Carpenter Technology Stock Up 5.9%

Shares of NYSE:CRS opened at $587.97 on Wednesday. The business has a 50-day moving average price of $530.80 and a 200 day moving average price of $434.74. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $29.22 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 1.56 and a beta of 1.22. 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 earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. Carpenter Technology’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.88 earnings per share. Sell-side analysts expect that Carpenter Technology Corporation will post 10.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on CRS shares. KeyCorp boosted their target price on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. BTIG Research raised their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company raised their price target on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Susquehanna lifted their price target on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research report on Thursday, July 9th. Finally, 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. One equities research 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 company’s stock. According to data from MarketBeat, Carpenter Technology presently has a consensus rating of “Buy” and a consensus target price of $556.75.

About Carpenter Technology

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.