UniSuper Management Pty Ltd Takes $795,000 Position in Carpenter Technology Co. (NYSE:CRS)

UniSuper Management Pty Ltd acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,125 shares of the basic materials company’s stock, valued at approximately $795,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. purchased a new position in Carpenter Technology in the 4th quarter valued at about $29,000. Whittier Trust Co. purchased a new position in shares of Carpenter Technology during the first quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new stake in Carpenter Technology during the fourth quarter worth approximately $31,000. Westend Capital Management LLC purchased a new stake in Carpenter Technology in the 1st quarter worth approximately $36,000. Finally, Covestor Ltd grew its stake in Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 685 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Activity

In related news, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the sale, the director now directly owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP James D. Dee sold 23,518 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the sale, the senior vice president now directly owns 84,798 shares in the company, valued at approximately $9,434,625.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,678 shares of company stock valued at $6,261,693. Company insiders own 3.40% of the company’s stock.

Carpenter Technology Trading Up 11.6 %

NYSE:CRS traded up $14.05 on Thursday, hitting $135.55. 443,680 shares of the stock were exchanged, compared to its average volume of 591,201. The stock has a market cap of $6.72 billion, a PE ratio of 51.59 and a beta of 1.44. Carpenter Technology Co. has a fifty-two week low of $55.92 and a fifty-two week high of $144.40. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $108.56 and a 200-day moving average of $85.48.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.94 by $0.25. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The firm had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same quarter last year, the firm posted $0.38 earnings per share. Carpenter Technology’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts expect that Carpenter Technology Co. will post 4.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRS. Northcoast Research reissued a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft started coverage on Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price on the stock. TD Cowen upped their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BTIG Research started coverage on shares of Carpenter Technology in a research report on Wednesday, June 26th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Carpenter Technology in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.60.

Carpenter Technology Company 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.