Janus Henderson Group PLC Decreases Holdings in Carpenter Technology Corporation $CRS

Janus Henderson Group PLC decreased its stake in Carpenter Technology Corporation (NYSE:CRS) by 37.8% during the 1st quarter, Holdings Channel reports. The firm owned 22,437 shares of the basic materials company’s stock after selling 13,652 shares during the quarter. Janus Henderson Group PLC’s holdings in Carpenter Technology were worth $8,850,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its position in Carpenter Technology by 334.3% during the fourth quarter. Covestor Ltd now owns 3,492 shares of the basic materials company’s stock worth $1,099,000 after acquiring an additional 2,688 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in Carpenter Technology during the fourth quarter worth approximately $4,062,000. 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. Brookstone Capital Management purchased a new stake in shares of Carpenter Technology in the 1st quarter valued at approximately $2,876,000. Finally, UBS Group AG raised its position in Carpenter Technology by 171.2% in the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after purchasing an additional 382,865 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of research analyst reports. TD Cowen increased their price target on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on shares of Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research note on Tuesday. BTIG Research upped their price objective on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, KeyCorp lowered their price objective on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology has a consensus rating of “Buy” and an average target price of $577.25.

Carpenter Technology Price Performance

CRS stock opened at $571.46 on Thursday. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 2.07 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The business has a 50 day moving average price of $559.69 and a 200 day moving average price of $452.65.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The firm had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. During the same quarter last year, the business posted $2.21 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology Corporation will post 12.92 earnings per share for the current fiscal year.

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.