Moody National Bank Trust Division Has $4.65 Million Stock Position in Carpenter Technology Corporation $CRS

Moody National Bank Trust Division lowered its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 47.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,545 shares of the basic materials company’s stock after selling 6,900 shares during the period. Moody National Bank Trust Division’s holdings in Carpenter Technology were worth $4,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Advisory Services Inc. increased its holdings in Carpenter Technology by 3.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after buying an additional 32 shares during the last quarter. Abel Hall LLC increased its stake in shares of Carpenter Technology by 3.2% during the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC increased its stake in shares of Carpenter Technology by 2.4% during the 4th quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock worth $444,000 after purchasing an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Carpenter Technology by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after purchasing an additional 34 shares during the period. Finally, Essential Partners LLC lifted its stake in Carpenter Technology by 9.9% in the 1st quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 34 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRS. BTIG Research lifted their price target on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Zacks Research raised Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Wells Fargo & Company lifted their target price on Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Weiss Ratings lowered Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, TD Cowen raised their price target on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 13th. One 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, the stock presently has a consensus rating of “Buy” and an average price target of $577.25.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $571.30 on Wednesday. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.97 and a beta of 1.25. The company has a 50-day simple moving average of $557.48 and a 200 day simple moving average of $451.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.14. The firm had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. On average, sell-side analysts predict that Carpenter Technology Corporation will post 12.92 earnings per share for the current 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.