Carpenter Technology Corporation $CRS Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC cut its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,469 shares of the basic materials company’s stock after selling 27,706 shares during the period. Carpenter Technology comprises about 4.6% of Granahan Investment Management LLC’s investment portfolio, making the stock its biggest holding. Granahan Investment Management LLC owned approximately 0.48% of Carpenter Technology worth $94,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Advisory Services Inc. boosted its holdings in Carpenter Technology by 3.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 32 shares during the last quarter. Abel Hall LLC grew its stake in Carpenter Technology by 3.2% during the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 32 shares in the last quarter. Brown Miller Wealth Management LLC increased its holdings in 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 position 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 in the last quarter. Finally, SJS Investment Consulting Inc. raised its position in shares of Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was 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 in the company, valued at $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction 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 directly owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 0.4%

Shares of NYSE CRS opened at $603.70 on Friday. 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’s 50 day moving average price is $541.18 and its two-hundred day moving average price is $439.66. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98. The stock has a market capitalization of $30.00 billion, a P/E ratio of 63.55, a PEG ratio of 1.69 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last issued its 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. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The company had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same quarter last year, the firm earned $1.88 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Carpenter Technology Corporation will post 10.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRS. Susquehanna raised their price target on shares of Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a report on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. BTIG Research raised their price objective 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. Finally, Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $556.75.

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.