WCM Investment Management LLC Has $177.32 Million Stake in Carpenter Technology Corporation $CRS

WCM Investment Management LLC grew its holdings in Carpenter Technology Corporation (NYSE:CRS) by 10.2% during the first quarter, Holdings Channel.com reports. The firm owned 478,314 shares of the basic materials company’s stock after buying an additional 44,400 shares during the period. WCM Investment Management LLC’s holdings in Carpenter Technology were worth $177,316,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Carpenter Technology by 10.1% during the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after purchasing an additional 192,533 shares in the last quarter. Invesco Ltd. lifted its position in Carpenter Technology by 18.8% in the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after buying an additional 327,302 shares in the last quarter. Egerton Capital UK LLP boosted its stake in shares of Carpenter Technology by 13.0% during the 4th quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock valued at $488,950,000 after buying an additional 178,679 shares during the period. SurgoCap Partners LP boosted its stake in shares of Carpenter Technology by 29.5% during the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after buying an additional 272,896 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Carpenter Technology by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after acquiring an additional 78,588 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRS has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. TD Cowen upped their target price on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Zacks Research raised Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $556.75.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the transaction, the director owned 750 shares in the company, valued at approximately $317,895. This trade 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 currently owned by insiders.

Carpenter Technology Price Performance

NYSE CRS opened at $556.52 on Monday. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $27.65 billion, a PE ratio of 58.58, a price-to-earnings-growth ratio of 1.57 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. The company has a 50 day moving average price of $525.05 and a two-hundred day moving average price of $431.15.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. Carpenter Technology’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, equities analysts predict 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.